Regulators spent a record $1.7 billion Friday to bail out CenTrust Bank of Miami, capping an unprecedented three-month spree of 155 savings and loan rescues or closings that cost an estimated $29 billion.
In the biggest bailout of a savings and loan yet, the government is paying Great Western Financial Corp. of Beverly Hills, Calif., to take over CenTrust's 71 branches and $5.2 billion in deposits, officials said.
In all, the Resolution Trust Corp., created 11 months ago to clean up the thrift industry, expected to sell or close about a dozen institutions Friday, including some of the largest failures handled to date.
Here is a list of savings and loan institutions sold Friday, followed by the buyers and the estimated cost of the deals to the taxpayers.
CenTrust Bank, Miami, to Great Western Bank, Beverly Hills, Calif., $1.7 billion.
Valley Federal Savings Association, McAllen, Texas, to International Bank of Commerce, Laredo, Texas, $210 million.
First Federal Savings and Loan Association, Colorado Springs, Colo., to the Western National Bank of Colorado Springs, $138 million.
Republic Bank for Savings, Jackson, Miss., to Southbank Federal Savings Bank, Corinth, Miss., $65.7 million.
Elysian Federal Savings Bank, Hoboken, N.J., to Pamrapo Savings Bank, Bayonne, N.J., $33.5 million.
Rusk Federal Savings and Loan Association, Rusk, Texas, to Citizens Bank, Rusk, $23.7 million.
Capital Federal Savings and Loan, Little Rock, Ark., to First National Bank of Phillips County, Helena, Ark., and Heritage Federal Savings and Loan Association, Monticello, $23.4 million.
Marshall Savings and Loan Association, Marshall, Texas, to Kilgore Federal Savings and Loan Association, Kilgore, Texas, $21.8 million.
General Savings Association, Henderson, Texas, to Citizens National Bank, Henderson, $18.4 million.
Delta Federal Savings and Loan Association, Drew, Miss., to Delta Bank and Trust, Drew, $7.5 million.
Black Hawk Savings and Loan Association, Rock Island, Ill., to American Bank of Rock Island, $2.2 million.
Colorado Savings Bank, Sterling, Colo., to Silver Queen Financial Services Inc., Aspen, Colo., $1.9 million.
Here is a list of savings and loans seized Friday and the assets of each.
Travis Savings and Loan Association, San Antonio, Texas, $330 million.
First Jackson Savings Bank, Jackson, Miss., $124 million.
Charter Federal Savings and Loan Association, Stamford, Conn., $108 million.
Pioneer Savings and Loan Co., Marietta, Ohio, $10 million.