Bank failure · CA
Sierra S & L Assoc. (Beverly Hills, CA) — failed July 20, 1989
Sierra S & L Assoc. of Beverly Hills, California was closed on July 20, 1989 and resolved through a purchase and assumption. Sun Sb, FSB (CA) took over its insured deposits. At failure it held $40.7M in assets and $40.0M in deposits. The FDIC's estimated loss on the failure is $11.1M (27.3% of assets).
- Closing date
- July 20, 1989
- FDIC certificate #
- 32428
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Sun Sb, FSB
- Insurance fund
- RTC
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