Data / Bank failures / 1983 / Valley First FS&LA
Valley First FS&LA, El Centro, CA: failed January 14, 1983
Valley First FS&LA in El Centro, California, failed on January 14, 1983. Home FS&LA of San Diego, CA, took over its deposits. It held $37.1 million in assets and $33.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $-7,434,200 (-20% of its assets). By assets it was the 58th largest of 99 banks closed or assisted in 1983.
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The FDIC's record
- Closed
- January 14, 1983
- Type
- Failure
- How it was resolved
- Insured deposit transfer: the insured deposits moved to another bank
- Acquirer
- Home FS&LA, San Diego, CA
- Total assets
- $37,109,710
- Total deposits
- $33,697,720
- Estimated cost to the FDIC
- $-7,434,200 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- FSLIC
- FDIC certificate
- 31620
Other bank failures in California, 1981 to 1985
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First City Bank | Glendale | December 20, 1985 | $35.8 million | $28.8 million | $5.9 million | Sterling Bank |
| California Heritage Bank | San Diego | November 22, 1985 | $24.1 million | $22.4 million | $3.2 million | Grossmont Bank |
| Farmers Savings Bank | Davis | October 18, 1985 | $590.3 million | $526.4 million | $137.8 million | |
| Golden Pacific S&LA (assistance) | Windsor | September 27, 1985 | $45.6 million | $46.2 million | $6.1 million | Empire of America-Californi |
| Presidio S&LA | Porterville | August 28, 1985 | $284.5 million | $244.9 million | $96.6 million | Gibralter Savings |
| Centennial S&LA | Guerneville | August 20, 1985 | $368.2 million | $367.8 million | $148.9 million | Citizens FS&LA |
| Butterfield S&LA (assistance) | Santa Ana | August 7, 1985 | $708.3 million | $768.3 million | $371.3 million | Downey S&LA |
| Bell S&LA (assistance) | San Mateo | July 25, 1985 | $1.64 billion | $1.31 billion | $829.7 million | Western FS&LA |
Other failed banks Home FS&LA took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Firstsouth FS&LA | Pine Bluff | AR | December 5, 1986 | $1.68 billion | $1.50 billion | $1.70 billion | Home FS&LA |
All bank failures in 1983 · All bank failures in California · Every failed bank Home FS&LA took over · 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.