Bank failure · AZ
Universal Savings & Loan (Scottsdale, AZ) — failed February 17, 1989
Universal Savings & Loan of Scottsdale, Arizona was closed on February 17, 1989 and resolved through a purchase and assumption. First Arizona S&la (AZ) took over its insured deposits. At failure it held $92.7M in assets and $103.1M in deposits. The FDIC's estimated loss on the failure is $22.5M (24.3% of assets).
- Closing date
- February 17, 1989
- FDIC certificate #
- 32585
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- First Arizona S&la
- Insurance fund
- RTC
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