Data / Bank failures / 1988 / Community First Fed Savings
Community First Fed Savings, Vancouver, WA: received FDIC assistance December 15, 1988
Community First Fed Savings in Vancouver, Washington, received open bank assistance from the FDIC on December 15, 1988. It held $386 million in assets and $308.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $73.3 million (19% of its assets). By assets it was the 61st largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- December 15, 1988
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- American Home Savings A FSB, Salem, OR
- Total assets
- $386,016,000
- Total deposits
- $308,114,000
- Estimated cost to the FDIC
- $73,319,320 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 29097
Other bank failures in Washington, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Frontier FS & La | Walla Walla | February 23, 1990 | $146.9 million | $120 million | $9,856 | Washington Mutual |
| Gibraltar Savings Bank, FSB | Seattle | March 31, 1989 | $1.68 billion | $1.37 billion | $59,301 | |
| Eastern Washington S&LA (assistance) | Wenatchee | December 14, 1988 | $51.5 million | $32.3 million | $1.1 million | First W FS&LA of Wenatchee |
| First of Longview (assistance) | Longview | August 2, 1988 | $78.1 million | $76.3 million | $13.6 million | First FS&LA |
| Lynnwood S&LA (assistance) | Lynnwood | June 24, 1988 | $24.1 million | $24.9 million | $3.7 million | World S&LA America Fed S&L |
| The Liberty Bank of Seattle | Seattle | June 17, 1988 | $19.1 million | $20.6 million | $8.4 million | Emerald City Bank |
| Tri-Cities Savings and Loan (assistance) | Kennewick | April 11, 1988 | $53.1 million | $43.8 million | $14.2 million | Sterling Savings of Spokane |
| Home S&LA (assistance) | Seattle | March 13, 1987 | $150.6 million | $117.6 million | $25.9 million | Interwest Savings Bank |
Other failed banks American Home Savings A FSB took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| American Home Savings (assistance) | Salem | OR | December 15, 1988 | $403 million | $382.7 million | $145.3 million | American Home Savings A FSB |
All bank failures in 1988 · All bank failures in Washington · Every failed bank American Home Savings A FSB took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. 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.