|This entry refers to a departed business — a business that has closed or left town. Information here is mostly for historical reference.|
|760 E. Lake Ave. Watsonville, CA 95076|
|First Federal Savings|
In 1980, First Federal Savings and Loan Association built a branch in Watsonville. They also had two other branches in Monterey County. In 1982 these branches became part of San Francisco Federal Savings and Loan. This Watsonville building would have five names of finance institutions from 1980 to 2002.
HISTORY Founded in 1929 as First Federal Bank of California. Later, it became First Federal Savings and Loan Association of Santa Monica.
In 1980 they built a location in Watsonville. The location was sold and became San Francisco Federal Savings and Loan in 1982.
Starting in 1983, First Federal Savings began to offer full-service personal and business banking, and changed to become First Federal Savings Bank. In 1987 they changed their name to First Federal Bank of California.
On December 18, 2009, First Federal Bank of California was closed by the Office of Thrift Supervision. The company was bought by OneWest Bank. The FDIC estimated First Federal Bank of California cost the deposit insurance fund $146.3 million.
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