Data / Bank failures / 1985 / Centennial S&LA
Centennial S&LA, Guerneville, CA: failed August 20, 1985
Centennial S&LA in Guerneville, California, failed on August 20, 1985. Citizens FS&LA of Miami, FL, took over its deposits. It held $368.2 million in assets and $367.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $148.9 million (40.5% of its assets). By assets it was the 20th largest of 180 banks closed or assisted in 1985.
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The FDIC's record
- Closed
- August 20, 1985
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Citizens FS&LA, Miami, FL
- Total assets
- $368,163,000
- Total deposits
- $367,831,000
- Estimated cost to the FDIC
- $148,930,400 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 31818
Other bank failures in California, 1983 to 1987
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Delta Pacific Bank | Pittsburg | October 30, 1987 | $17.7 million | $17 million | $1.3 million | Central Bank |
| First California Savings Bank | San Fernando | October 15, 1987 | $220.6 million | $224 million | ||
| Valley State Bank | Los Angeles | September 28, 1987 | $93.2 million | $92 million | $2.2 million | Capital Bank of Californ |
| Commonwealth Bank | Torrance | September 25, 1987 | $85.1 million | $83.8 million | $16.7 million | Capital Bank of Californ |
| Empire National Bank | Los Angeles | July 30, 1987 | $8.8 million | $9.6 million | $3.1 million | |
| Bank of Los Gatos, N.A. | Los Gatos | July 23, 1987 | $13.1 million | $12.9 million | $1.3 million | Bank of the West |
| Whittier Thrift & Loan | Whittier | June 12, 1987 | $15.2 million | $14.4 million | $3.3 million | Liberty THRIFT&LOAN |
| Tahoe S&LA (assistance) | South Lake Tahoe | April 3, 1987 | $81.2 million | $90.8 million | $41.7 million | First Network Savings Bank |
Other failed banks Citizens FS&LA took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Equitable FSB (assistance) | Lancaster | OH | July 9, 1986 | $691.5 million | $645.7 million | $152.3 million | Citizens FS&LA |
| Citizens FS&LA (assistance) | Seattle | WA | December 1, 1985 | $461.4 million | $353.2 million | $18 million | Citizens FS&LA |
| Gary FS&LA (assistance) | Gary | IN | August 31, 1983 | $15.2 million | $15.7 million | $1.1 million | Citizens FS&LA |
| 1ST FS&LA of E. Chicago (assistance) | East Chicago | IN | August 31, 1983 | $209.5 million | $211.1 million | $12.1 million | Citizens FS&LA |
All bank failures in 1985 · All bank failures in California · Every failed bank Citizens FS&LA took over · 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.