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Gibraltar Savings and Loan Association was an American bank operating in California, Washington, and Florida. It was organized as a savings and loan and failed in 1989. Overview
The thrift was reopened as First Texas Bank F.S.B., but then renamed First Gibraltar Bank, F.S.B. in 1989. BankAmerica Corp. acquired 130 branches of the thrift in 1993. [ 9 ] Four branches were retained and renamed First Madison Federal Savings Bank, which then purchased First Nationwide Bank in 1994, California Federal Bank in 1997 and ...
Gibraltar Trust Bank - est. 1987 as a joint venture with Credit Suisse. In 1991 Credit Suisse wholly acquired Gibraltar Trust, which is now Credit Suisse (Gibraltar) Barclays Bank PLC; The Anglo-Egyptian Bank (later Barclays) opened a branch in Gibraltar in 1888, and withdrew from the Rock in 2015. Lloyds, closed in late 2019.
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The early 1980s saw a recession along with high interest rates, which stressed both thrift and other banking institutions considerably. [7] Negative net interest margins, due to the low interest earned on assets with high deposit interest expenses needed to retain deposits, caused a wave of thrift failures between 1981 and 1983. [1]
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