Bank failure · CO
Otero S & L Assoc. (Colorado Springs, CO) — failed March 9, 1989
Otero S & L Assoc. of Colorado Springs, Colorado was closed on March 9, 1989 and resolved through a payout (deposit payoff). Branch Sale (NA) took over its insured deposits. At failure it held $558.6M in assets and $481.7M in deposits. The FDIC's estimated loss on the failure is $306.1M (54.8% of assets).
- Closing date
- March 9, 1989
- FDIC certificate #
- 28131
- Resolution
- Payout (deposit payoff) (failure)
- Acquiring institution
- Branch Sale
- Insurance fund
- RTC
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