Rancho Santa Fe Thrift & Loan Association is a commercial bank with state charter. The Federal Deposit Insurance Corporation supervises the bank. Established in 1982, it is a niche lender that specializes in automobile loans provided through dealerships. Rancho Santa Fe Thrift & Loan Association approves approximately $20 million worth of car loans each year. In 2005, the bank reported assets totalling more than $98,000. Rancho Santa Fe Thrift is an industrial bank organized as a Sub-S corporation, meaning that its income tax liability flows through to and is paid directly by the owners. Rancho Santa Fe Thrift & Loan Association employs more than 50 people and maintains its head office location in San Marcos, Calif.