Data / Bank failures / 1989 / First California Savings
First California Savings, Orange, CA: failed April 6, 1989
First California Savings in Orange, California, failed on April 6, 1989. First American Bank of Rosemead, CA, took over its deposits. It held $161.4 million in assets and $194.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $73.7 million (45.7% of its assets). By assets it was the 158th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- April 6, 1989
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- First American Bank, Rosemead, CA
- Total assets
- $161,360,000
- Total deposits
- $194,491,000
- Estimated cost to the FDIC
- $73,744,716 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 32560
Other bank failures in California, 1987 to 1991
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Delta FSB | Westminster | November 8, 1991 | $52.4 million | $29.4 million | $12 million | East-West FB, FSB |
| Mission Valley Bank, National Assoc | San Clemente | October 18, 1991 | $42.7 million | $40.5 million | $14.5 million | Mid City Bank, National Ass |
| Gold River SB | Fair Oaks | September 27, 1991 | $24.1 million | $21.9 million | $2.1 million | El Dorado SB |
| Santa Paula S & La | Santa Paula | September 27, 1991 | $280.7 million | $242.6 million | $6.9 million | Bank of Levy |
| Heartland S & La | La Mesa | September 6, 1991 | $121.7 million | $120.8 million | $18.4 million | Union Bank |
| Great American Fsa | San Diego | August 9, 1991 | $9.52 billion | $7.23 billion | $995.5 million | |
| Atlantic Financial FSB | San Francisco | July 26, 1991 | $448.9 million | $413.5 million | $35 million | |
| Pan American FSB | San Mateo | July 12, 1991 | $287.2 million | $250.2 million | $8.3 million | Pan American Bank, FSB |
Other failed banks First American Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| High Desert State Bank | Albuquerque | NM | June 25, 2010 | $80.3 million | $81 million | $28.4 million | First American Bank |
| Town Community Bank and Trust | Antioch | IL | January 15, 2010 | $70.8 million | $68.3 million | $23.3 million | First American Bank |
| United Citizens Bank, National Assoc | College Station | TX | February 28, 1991 | $44.9 million | $47.2 million | $9.8 million | First American Bank |
| Texas Commercial Sa | Sulphur Springs | TX | September 21, 1990 | $27.7 million | $26.8 million | $7 million | First American Bank |
| University National Bank of College Statio | College Station | TX | March 8, 1990 | $36.3 million | $39.5 million | $11.7 million | First American Bank |
| First Bank & Trust | Bryan | TX | February 9, 1989 | $148.1 million | $144.7 million | $30 million | First American Bank |
| Farmers National Bank of Erick | Erick | OK | February 7, 1985 | $16.8 million | $17.3 million | $3.6 million | First American Bank |
All bank failures in 1989 · All bank failures in California · Every failed bank First American Bank 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.