Data / Bank failures / 1989 / Lincoln Savings & Loan
Lincoln Savings & Loan, Irvine, CA: failed April 14, 1989
Lincoln Savings & Loan in Irvine, California, failed on April 14, 1989. Great Western Bank, FSB of Beverly Hills, CA, took over its deposits. It held $4.86 billion in assets and $4.19 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $3.14 billion (64.7% of its assets). By assets it was the 5th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- April 14, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Great Western Bank, FSB, Beverly Hills, CA
- Total assets
- $4,857,204,000
- Total deposits
- $4,193,981,000
- Estimated cost to the FDIC
- $3,142,551,682 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 29642
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 Great Western Bank, FSB took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The First, Federal Association | Orlando | FL | October 11, 1991 | $1.07 billion | $960.8 million | $148 million | Great Western Bank, FSB |
| Amerifirst Federal Savings | Miami | FL | March 15, 1991 | $3.58 billion | $2.87 billion | $557.5 million | Great Western Bank, FSB |
| Pioneer Savings Bank, FSB | Clearwater | FL | February 2, 1990 | $1.94 billion | $1.42 billion | $217.2 million | Great Western Bank, FSB |
| Centrust Bank, SB | Miami | FL | February 2, 1990 | $8.22 billion | $5.89 billion | $672.2 million | Great Western Bank, FSB |
All bank failures in 1989 · All bank failures in California · Every failed bank Great Western Bank, 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.