Data / Bank failures / 1989 / Deseret S & L Assoc.
Deseret S & L Assoc., Salt Lake City, UT: failed February 10, 1989
Deseret S & L Assoc. in Salt Lake City, Utah, failed on February 10, 1989. Zions First NB of Salt Lake City, UT, took over its deposits. It held $159.3 million in assets and $177.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $88 million (55.3% of its assets). By assets it was the 160th largest of 534 banks closed or assisted in 1989.
SpecStream is the live web data engine for teams and agents. It reads the FDIC failed bank data every morning, and this page is that reading. Ask for the banks you follow and each new closure arrives in your sheet, CRM, Slack or agent as the FDIC announces it.
The FDIC's record
- Closed
- February 10, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Zions First NB, Salt Lake City, UT
- Total assets
- $159,337,000
- Total deposits
- $177,688,000
- Estimated cost to the FDIC
- $88,042,864 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 28553
Other bank failures in Utah, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Home SB, FSB | Salt Lake City | July 5, 1990 | $12.8 million | $9.9 million | $217,701 | Zions First NB |
| Williamsburg FS & La | Salt Lake City | January 26, 1990 | $310.5 million | $257.7 million | $31.1 million | |
| Mountainwest S & L Assoc. | Ogden | February 17, 1989 | $241.5 million | $227.5 million | $71.4 million | Mountainwest Financial |
| American S & La | Salt Lake City | February 17, 1989 | $2.18 billion | $1.39 billion | $152.5 million | Pacific First FSB |
| Tracy-Collins Bank & Trust Company (assistance) | Salt Lake City | December 30, 1988 | $213.3 million | $196 million | $88,207 | Continental Bank & Trust Co |
| Mountainwest S&LA | Ogden | September 21, 1988 | $284.5 million | $262.3 million | ||
| Sandy State Bank | Sandy | May 27, 1988 | $8.9 million | $8 million | $1.9 million | Zions First National Ban |
| Basin State Bank | Vernal | February 12, 1988 | $12 million | $11.5 million | $3.4 million | Zions First National Ban |
Other failed banks Zions First NB took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Home SB, FSB | Salt Lake City | UT | July 5, 1990 | $12.8 million | $9.9 million | $217,701 | Zions First NB |
All bank failures in 1989 · All bank failures in Utah · Every failed bank Zions First NB 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.