Failed Bank List

Closed Friday, April 14, 1989 · Irvine, Los Angeles County, California

Lincoln Savings and Loan Association

Lincoln Savings and Loan Association's estimated cost to the Resolution Trust Corporation makes it the sixth-costliest failure on FDIC record since 1934. By total assets it is the 41st-largest of the 3,375 bank failures since 1934 for which the FDIC records a size, counted in dollars of the day. Equity capital was below zero at its last report.

On the books, 1984 to 1989

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$1.5B$3B$4.5B$6B1985198619871988Closed
Total assets peaked at $5.3 billion in the third quarter of 1988 and were 8% lower at the final report. Equity capital had covered 0.4% of assets in the first quarter of 1984. The deepest annual loss, $284 million, was booked in 1988.
Net income in each reporting year before closing, with equity capital as a share of assets at year endNet income per yearEquity to assets at year end$320M−$320M1984: $13.0 million19843.3%1985: $79.5 million19855.2%1986: $48.0 million19866.0%1987: $41.1 million19875.6%1988: −$284 million1988neg.1989: −$53.4 million1989*neg.
* 1989: January to March only, the last report before closing.

Size against the other 1989 failures

Total assets of the 530 banks that failed in 1989, log scale$1M$10M$100M$1B$10B$100B
Total assets of each 1989 failure, log scale; Lincoln Savings and Loan Association in red.

By assets it ranked fifth of the 530 failures in 1989. Within California it ranks 13th by size of the 239 failures recorded since 1934. In the size ranking of that year, just above it was Western Savings and Loan Association of Phoenix, Arizona ($5.7 billion, loss 37% of assets); just below, University Savings Association of Houston, Texas ($4.5 billion, loss 49% of assets). Every 1989 failure in the explorer.

Failures in California

In 1989 regulators closed 28 banks in California; this was the 18th. The previous failure there was Perpetual Savings Association A Federal Savings and Loan Association of Santa Ana, on April 6, 1989. The next was Southwest Savings and Loan Association of Los Angeles, on April 27, 1989. Los Angeles County has 87 failed banks on FDIC record since 1934. Closest in time: Founders Savings and Loan Association (1989), Unified Savings, A Federal Savings and Loan Association (1989), City Savings and Loan Association (1989), Southwest Savings and Loan Association (1989), Westco Savings Bank, FSB (1989).

Bank failures in California per year, 1980 to 2026081624321982: 21983: 61984: 71985: 111986: 171987: 121988: 31989: 281990: 211991: 211992: 181993: 241994: 101995: 51996: 21999: 12000: 12003: 12008: 52009: 172010: 122011: 42012: 12014: 12023: 22026: 119801990200020102020
Per year since 1980, 1989 in red. Every California failure

FDIC certificate 29642 · loss estimate as of July 31, 2026 · How to read this page