|2018 Freedom Blvd. Freedom, CA|
|In Freedom: 1975-1989|
Gibraltar Savings lost $337.5 million in the second quarter of 1989. This was in addition to major losses since 1987. Gibraltar had $13.4 billion in assets at the time it was seized. In 1989 federal regulators seized assets of the bank. It was one of the largest insolvencies in U.S. history. Gibraltar Savings was acquired by Security Pacific Bank.
There are other companies using the name Gibraltar Savings as recent as 2011. They have no connection to the company that closed in 1989.
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