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California Federal Bank, known as CalFed, was a retail bank and real estate lender headquartered in Los Angeles, California, that operated under a federal savings bank charter. In 2002, it operated 352 branches , most of which were in California , when acquired by Citigroup .
American Savings and Loan Association was an American savings and loan based in Stockton, California. In 1988 it was the largest thrift failure and the federal government's costliest resolution during the savings and loan crisis at an estimated cost of $5.4 billion. [1]
First Federal Bank of California was founded in 1929 by William S. Mortensen, and later became an institution called First Federal Savings and Loan Association of Santa Monica. In 1983, they diversified to offer full-service personal and business banking, including but notwithstanding wealth management and trust services.
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