Gibraltar Savings and Loan

Gibraltar Savings and Loan Association was an American savings and loan bank operating in California, Washington, and Florida. It failed in 1989.

The bank’s headquarters at 9111 Wilshire Boulevard in Beverly Hills was built in 1958 and designed by William Pereira. In 1989, U.S. federal regulators seized the bank’s assets, totaling $13.4 billion, including the Los Angeles Equestrian Center, which was later transferred to Del Ray, a Burbank-based development firm. At the time, the failure was one of the largest bank insolvencies in U.S. history. Gibraltar was later acquired by Security Pacific National Bank, then the fifth-largest bank in the United States. ^{[1] [2]}

References

1. Security Pacific Wins Gibraltar Savings Bid, by Richard W. Stevenson, The New York Times , Thursday, June 28, 1990
2. Horrace A. Laffaye, Polo in the United States: A History, McFarland & Company AF, 2011, p. 230. ISBN   978-0-7864-8007-4.

• Two savings units with large losses taken over by U.S. New York Times April 1, 1989
• Ex-Gibraltar S&L Chief Fixes Blame: Thayer Says Money Brokers Caused Liquidity Problems Los Angeles Times April 4, 1989
• The Rock In Pieces: How Gibraltar Savings Made a Mess of Itself, Ending Up in the Hands of Federal Regulators Los Angeles Times April 16, 1989
• Gibraltar To Sell Off Portfolio New York Times June 3, 1989
• Gibraltar Thrifts' Loss Hits $337.5 Million in Quarter Los Angeles Times August 26, 1989
• Drexel's Junk Network: U.S. Says the Firm Had Some Local S&Ls on Very Sweet Strings Los Angeles Times November 16, 1990
• RTC Files Suit Against Nine Ex-Officials of Gibraltar Savings AP News Archive October 2, 1992