Bank failure · CA

Stanford S&la (Palo Alto, CA) — failed June 24, 1988

Stanford S&la of Palo Alto, California was closed on June 24, 1988 and resolved through a a/a. Eureka Fs&la (CA) took over its insured deposits. At failure it held $73.5M in assets and $79.8M in deposits. The FDIC's estimated loss on the failure is $17.1M (23.3% of assets).