Commonwealth Thrift and Loan
Torrance, CA
$11.5M
total assets, June 30, 1996
$11.5M
total assets, June 30, 1996
Commonwealth Thrift and Loan was a state nonmember bank in Torrance, CA. It failed on Aug 16, 1996, and Frontier State Bank took over its deposits. At its last report it held $11.5 million in assets.
Updated Oct 11, 2026 · numbers as of June 30, 1996
This bank failed
- Failed on
- Aug 16, 1996
- Assets
- $11.5M
- Deposits
- $10.9M
- Estimated cost
- $5.6M
- Deposits went to
- Frontier State Bank, Redondo Beach, CA
Total assets
$11.5M
-2.1% in a year · -7.5% in a quarter
Deposits
$10.9M
+4.2% in a year · -2.5% in a quarter
Loans
$9.3M
+4.0% in a year · +8.4% in a quarter
Profit so far
-$1.0M
Jan 1 to Jun 30, 1996 · -3138.2% in a year
Capital ratio
0.38%
-9.68 pts in a year
Return on assets
-17.22%
-17.82 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 3770 Sepulveda Boulevard, Torrance, CA, 90505
- County
- Los Angeles
- Established
- Mar 1, 1981
- Failed
- Aug 19, 1996
- Employees
- 22
- Branches
- 1
- Id
- b27072
Quarter by quarter
September 30, 1987 to June 30, 1996
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is Commonwealth Thrift and Loan?
$11.5 million in total assets and $10.9 million in deposits as of June 30, 1996, with assets down 2.1% from a year before. Its loans were $9.35 million.
How many branches does Commonwealth Thrift and Loan have?
1 branch in California as of June 30, 2026.
Is Commonwealth Thrift and Loan profitable?
No: it lost $1.03 million from January 1 to June 30, 1996. Its return on assets was -17.22% a year; about 1% is typical.
When did Commonwealth Thrift and Loan fail?
Aug 16, 1996. Frontier State Bank of Redondo Beach, CA took over its deposits. The estimated cost of the failure was $5.64 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.