Bank failure · AZ
Western Savings & Loan (Phoenix, AZ) — failed June 14, 1989
Western Savings & Loan of Phoenix, Arizona was closed on June 14, 1989 and resolved through a purchase and assumption. Bank of America, Az (AZ) took over its insured deposits. At failure it held $5.7B in assets and $4.1B in deposits. The FDIC's estimated loss on the failure is $2.1B (36.7% of assets).
- Closing date
- June 14, 1989
- FDIC certificate #
- 28597
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Bank of America, Az
- Insurance fund
- RTC
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