Data / Bank failures / 1986 / First FS&LA of Redding
First FS&LA of Redding, Redding, CA: received FDIC assistance March 20, 1986
First FS&LA of Redding in Redding, California, received open bank assistance from the FDIC on March 20, 1986. It held $39.6 million in assets and $41.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $-223,445 (-0.6% of its assets). By assets it was the 95th largest of 204 banks closed or assisted in 1986.
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The FDIC's record
- Closed
- March 20, 1986
- Type
- Open bank assistance
- How it was resolved
- Open bank assistance: the FDIC assisted the bank without closing it
- Acquirer
- Great American FSB, San Diego, CA
- Total assets
- $39,642,000
- Total deposits
- $41,214,000
- Estimated cost to the FDIC
- $-223,445 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 31380
Other bank failures in California, 1984 to 1988
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Adobe Savings Bank (assistance) | Concord | September 30, 1988 | $48.1 million | $43.4 million | $3.8 million | Tracy SAVINGS&LOAN Assn |
| American S&LA (assistance) | Stockton | September 7, 1988 | $30.16 billion | $15.41 billion | $5.37 billion | American Savings Bank FA |
| Homestate S&LA (assistance) | Hayward | August 26, 1988 | $182.1 million | $222.3 million | $45.7 million | Old Stone Bank of Ca A FSB |
| Westlake Thrift & Loan Association | Westlake Village | July 29, 1988 | $55.2 million | $51.2 million | $7.7 million | Independence Bank |
| First Security SB (assistance) | Pleasant Hill | July 21, 1988 | $176.5 million | $133.1 million | $44.6 million | Columbus Savings, A FS&LA |
| Stanford S&LA (assistance) | Palo Alto | June 24, 1988 | $73.5 million | $79.8 million | $17.1 million | Eureka FS&LA |
| Colonial Thrift & Loan Association | Culver City | April 15, 1988 | $26.8 million | $24 million | $4.6 million | Southern Pacific TH&L As |
| Balboa National Bank | National City | January 14, 1988 | $29.3 million | $29.4 million | $6.4 million |
Other failed banks Great American FSB took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Hacienda FS&LA (assistance) | Oxnard | CA | March 20, 1986 | $34.5 million | $15.5 million | $-185,228 | Great American FSB |
| Inglewood FS&LA (assistance) | Inglewood | CA | February 1, 1982 | $7.7 million | $6.8 million | $2.1 million | Great American FSB |
All bank failures in 1986 · All bank failures in California · Every failed bank Great American FSB 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.