Bank failure · CA
Pacific Savings Bank (Costa Mesa, CA) — failed February 7, 1989
Pacific Savings Bank of Costa Mesa, California was closed on February 7, 1989 and resolved through a purchase and assumption. Royal Trust Holdings (WA) took over its insured deposits. At failure it held $1.1B in assets and $1.0B in deposits. The FDIC's estimated loss on the failure is $188.3M (16.8% of assets).
- Closing date
- February 7, 1989
- FDIC certificate #
- 28560
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Royal Trust Holdings
- Insurance fund
- RTC
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