Data / Bank failures / 1989 / Mountainwest S & L Assoc.
Mountainwest S & L Assoc., Ogden, UT: failed February 17, 1989
Mountainwest S & L Assoc. in Ogden, Utah, failed on February 17, 1989. Mountainwest Financial of Sandy, UT, took over its deposits. It held $241.5 million in assets and $227.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $71.4 million (29.6% of its assets). By assets it was the 112th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- February 17, 1989
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Mountainwest Financial, Sandy, UT
- Total assets
- $241,532,000
- Total deposits
- $227,455,000
- Estimated cost to the FDIC
- $71,419,342 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 32621
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 | |
| American S & La | Salt Lake City | February 17, 1989 | $2.18 billion | $1.39 billion | $152.5 million | Pacific First FSB |
| Deseret S & L Assoc. | Salt Lake City | February 10, 1989 | $159.3 million | $177.7 million | $88 million | Zions First NB |
| 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 |
All bank failures in 1989 · All bank failures in Utah · 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.