Data / Bank failures / 1989 / Perpetual Savings Association
Perpetual Savings Association, Santa Ana, CA: failed April 6, 1989
Perpetual Savings Association in Santa Ana, California, failed on April 6, 1989. Bank of Industry of City of Industry, CA, took over its deposits. It held $18.7 million in assets and $29 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $12.6 million (67.2% of its assets). By assets it was the 450th 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
- Bank of Industry, City of Industry, CA
- Total assets
- $18,736,000
- Total deposits
- $28,992,000
- Estimated cost to the FDIC
- $12,595,103 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 32528
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 |
All bank failures in 1989 · All bank failures in California · 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.