Failed Bank List

Closed Friday, April 27, 1990 · Santa Barbara, Santa Barbara County, California

Santa Barbara Savings and Loan Association

By total assets Santa Barbara Savings and Loan Association is the 47th-largest of the 3,375 bank failures since 1934 for which the FDIC records a size, counted in dollars of the day. In 1990 regulators closed 21 banks in California; this was the 12th.

On the books, 1984 to 1990

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$1.5B$3B$4.5B$6B19851986198719881989Closed
Total assets peaked at $5.5 billion in the third quarter of 1987 and were 22% lower at the final report. Equity capital stayed close to 1% of assets from the first quarter of 1984 to the last report. It reported a net loss in three of its final seven reporting years. The deepest annual loss, $60.0 million, was booked in 1989.
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$80M−$80M1984: −$18.4 million19840.2%1985: $2.5 million19850.3%1986: $20.4 million19861.0%1987: $44 thousand19870.8%1988: −$8.0 million19880.7%1989: −$60.0 million1989neg.1990: $37.7 million1990*0.6%
* 1990: January to March only, the last report before closing.

Size against the other 1990 failures

Total assets of the 381 banks that failed in 1990, log scale$1M$10M$100M$1B$10B
Total assets of each 1990 failure, log scale; Santa Barbara Savings and Loan Association in red.

By assets it ranked ninth of the 381 failures in 1990. Within California it ranks 14th by size of the 239 failures recorded since 1934. In the size ranking of that year, just above it was The BENJ. Franklin Federal Savings and Loan Association of Portland, Oregon ($4.6 billion, loss under 0.1% of assets); just below, Florida Federal Savings Bank of St. Petersburg, Florida ($4.1 billion, loss 9.6% of assets). Every 1990 failure in the explorer.

The only other bank closed that day was Home Owners Savings Bank F.S.B. of Burlington, Massachusetts.

Failures in California

The previous failure there was First Network Savings Bank of Los Angeles, on April 20, 1990. The next was Peninsula Savings and Loan Association of South San Francisco, on May 4, 1990. Santa Barbara County has 3 failed banks on FDIC record since 1934. The others: County Bank, A FSB (1991), Los Padres Bank (2010).

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, 1990 in red. Every California failure

FDIC certificate 28666 · loss estimate as of July 31, 2026 · How to read this page