Bank failure · CA
Westwood S & L Assoc. (Los Angeles, CA) — failed February 17, 1989
Westwood S & L Assoc. of Los Angeles, California was closed on February 17, 1989 and resolved through a purchase and assumption. Fidelity Fb, FSB (CA) took over its insured deposits. At failure it held $328.4M in assets and $397.3M in deposits. The FDIC's estimated loss on the failure is $236.7M (72.1% of assets).
- Closing date
- February 17, 1989
- FDIC certificate #
- 31927
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Fidelity Fb, FSB
- Insurance fund
- RTC
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