Bank failure · CA
Westco Savings Bank, FSB (Wilmington, CA) — failed April 27, 1989
Westco Savings Bank, FSB of Wilmington, California was closed on April 27, 1989 and resolved through a insured deposit transfer. Frontier Bank, NA (CA) took over its insured deposits. At failure it held $188.3M in assets and $181.4M in deposits. The FDIC's estimated loss on the failure is $42.6M (22.6% of assets).
- Closing date
- April 27, 1989
- FDIC certificate #
- 28508
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- Frontier Bank, NA
- Insurance fund
- RTC
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