The rise & fall of American Savings

American Savings & Loan turned out to be the largest “Thrift” failure, costing over 5billion dollars.

It opened in California in 1922. Our Granger location opened on 3500 South in 1956.

In 1984 the bank suffered a “Run on the Bank”of 7million after posting a loss. After that, things just got worse. Not long after it filed for bankruptcy. The government contributed 1.7billion, the bank split into many separate banks and many of them are now thriving.