Westlake Thrift and Loan Association
Westlake Village, CA
$55.2M
total assets, March 31, 1988
$55.2M
total assets, March 31, 1988
Westlake Thrift and Loan Association was a state nonmember bank in Westlake Village, CA. It failed on Jul 29, 1988, and Independence Bank took over its deposits. At its last report it held $55.2 million in assets.
Updated Oct 11, 2026 · numbers as of March 31, 1988
This bank failed
- Failed on
- Jul 29, 1988
- Assets
- $55.2M
- Deposits
- $51.2M
- Estimated cost
- $7.7M
- Deposits went to
- Independence Bank, Los Angeles, CA
Total assets
$55.2M
-14.8% in a year · +11.2% in a quarter
Deposits
$51.2M
-15.7% in a year · +9.8% in a quarter
Loans
$28.0M
-51.2% in a year · -33.9% in a quarter
Profit so far
-$310K
Jan 1 to Mar 31, 1988 · -181.6% in a year
Capital ratio
3.80%
-2.24 pts in a year
Return on assets
-2.37%
-4.92 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 660 Hampshire Road, Westlake Village, CA, 91361
- County
- Ventura
- Established
- Oct 20, 1983
- Failed
- Jul 29, 1988
- Employees
- 78
- Id
- b26315
Quarter by quarter
September 30, 1985 to March 31, 1988
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 11
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is Westlake Thrift and Loan Association?
$55.2 million in total assets and $51.2 million in deposits as of March 31, 1988, with assets down 14.8% from a year before. Its loans were $28.0 million.
Is Westlake Thrift and Loan Association profitable?
No: it lost $310,000 from January 1 to March 31, 1988. Its return on assets was -2.37% a year; about 1% is typical.
When did Westlake Thrift and Loan Association fail?
Jul 29, 1988. Independence Bank of Los Angeles, CA took over its deposits. The estimated cost of the failure was $7.75 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.