Data / Bank failures / 1987 / Sierra S&LA
Sierra S&LA, Gardnerville, NV: failed October 23, 1987
Sierra S&LA in Gardnerville, Nevada, failed on October 23, 1987. It held $12.1 million in assets and $12.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $563,800 (4.7% of its assets). By assets it was the 201st largest of 262 banks closed or assisted in 1987.
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The FDIC's record
- Closed
- October 23, 1987
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Total assets
- $12,061,000
- Total deposits
- $12,828,000
- Estimated cost to the FDIC
- $563,800 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 31962
Other bank failures in Nevada, 1985 to 1989
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Great West S&LA (assistance) | Las Vegas | January 31, 1986 | $52.1 million | $52.2 million | $3,000 | Great West SAVINGS&LOAN Ass |
All bank failures in 1987 · All bank failures in Nevada · 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.