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Colonial Thrift and Loan Association

Status:Inactive as of 04/15/1988
 Absorption - Assisted
Successor Bank:Southern Pacific Bank
Headquarters:Colonial Thrift and Loan Association
10720 West Washington Boulevard
Culver City, CA 90232
Established:11/01/1980
FDIC Insurance:06/18/1986
FDIC Cert:#26701
Charter Class:Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Total Assets:$26,761,000
Total Deposits:$24,017,000

History

1980-11-01Institution established but was not FDIC insured. Original name: Colonial Thrift and Loan Association
1986-06-18Became FDIC insured.
1988-04-15Failed. Acquired with government financial assistance and subsequently operated as part of Southern Pacific Thrift and Loan Association (27094)
1994-04-04Moved bank headquarters from CULVER CITY, CA to LOS ANGELES, CA
1997-09-16Changed name to Southern Pacific Bank (27094)
2000-02-22Moved bank headquarters from LOS ANGELES, CA to TORRANCE, CA
2003-02-07Failed. Acquired with government financial assistance and subsequently operated as part of Beal Bank, s.s.b. (32574)
2005-05-26Change trust powers from TRUST POWERS NOT GRANTED to LIMITED TRUST POWERS GRANTED
2008-02-04Changed institution class to OCC SUPERVISED SAVINGS BANKS
2008-02-04Changed name to Beal Bank (32574)
2008-02-04Changed primary regulatory agency from STATE to OFFICE OF THRIFT SUPERVISION
2009-12-18Acquired New South Federal Savings Bank (32276) in IRONDALE, AL as part of a government assisted transaction.
2010-01-31Changed institution class to FDIC SUPERVISED SAVINGS BANK
2010-01-31Changed name to Beal Bank, SSB (32574)
2010-01-31Changed primary regulatory agency from OFFICE OF THRIFT SUPERVISION to FEDERAL DEPOSIT INSURANCE CORPORATION
2011-10-14Acquired Charter Bank (59030) in ALBUQUERQUE, NM
2020-12-15Changed name to Beal Bank.
2020-12-15Changed Bank Class to NM.
2020-12-15Changed Organization Type to COMMERCIAL BANK.