Data / Bank failures / 1987 / Bank of Los Gatos, N.A.
Bank of Los Gatos, N.A., Los Gatos, CA: failed July 23, 1987
Bank of Los Gatos, N.A. in Los Gatos, California, failed on July 23, 1987. Bank of the West of San Francisco, CA, took over its deposits. It held $13.1 million in assets and $12.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.3 million (9.8% of its assets). By assets it was the 191st largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- July 23, 1987
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Bank of the West, San Francisco, CA
- Total assets
- $13,149,000
- Total deposits
- $12,893,000
- Estimated cost to the FDIC
- $1,294,344 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
- FDIC certificate
- 25285
Other bank failures in California, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| United Community Bank | Westlake Village | December 20, 1989 | $32.3 million | $29.3 million | $1.4 million | Olympic National Bank |
| Brookside Federal S & L | Los Angeles | November 30, 1989 | $601.4 million | $560.3 million | $45.7 million | |
| Security Fed. Savings Association | Garden Grove | November 16, 1989 | $71 million | $74.7 million | $2,801 | Itt FB, FSB |
| Saratoga S & L Association | San Jose | November 9, 1989 | $84.5 million | $81.7 million | $18.6 million | Pacific Western Bank |
| American Interstate Sa | Los Angeles | July 20, 1989 | $24.9 million | $25 million | $5 million | |
| Sierra S & L Assoc. | Beverly Hills | July 20, 1989 | $40.7 million | $40 million | $11.1 million | Sun SB, FSB |
| The Guardian Fed. S & L Assoc. | Bakersfield | June 29, 1989 | $29.4 million | $28.6 million | $11.7 million | Bank of America Ntsa |
| First Fed. S & L Assoc. | Bakersfield | June 29, 1989 | $126.4 million | $127.3 million | $11.3 million | Bank of America Ntsa |
All bank failures in 1987 · All bank failures in California · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.