Data / Bank failures / 1989 / The Guardian Fed. S & L Assoc.
The Guardian Fed. S & L Assoc., Bakersfield, CA: failed June 29, 1989
The Guardian Fed. S & L Assoc. in Bakersfield, California, failed on June 29, 1989. Bank of America Ntsa of San Francisco, CA, took over its deposits. It held $29.4 million in assets and $28.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $11.7 million (40% of its assets). By assets it was the 399th largest of 534 banks closed or assisted in 1989.
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The FDIC's record
- Closed
- June 29, 1989
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Bank of America Ntsa, San Francisco, CA
- Total assets
- $29,396,000
- Total deposits
- $28,646,000
- Estimated cost to the FDIC
- $11,743,890 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- RTC
- FDIC certificate
- 32142
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 Bank of America Ntsa took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Santa Barbara S & L Assoc. | Santa Barbara | CA | April 27, 1990 | $4.29 billion | $1.74 billion | $55,448 | Bank of America Ntsa |
| First Fed. S & L Assoc. | Bakersfield | CA | June 29, 1989 | $126.4 million | $127.3 million | $11.3 million | Bank of America Ntsa |
All bank failures in 1989 · All bank failures in California · Every failed bank Bank of America Ntsa 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.