Bank Failure
1st Centennial Bank
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Closed January 23, 2009 · Redlands, CA · FDIC Cert #33025.
- Closing date
- January 23, 2009
- Headquarters
- Redlands, CA
- FDIC Certificate
- 33025
- Total assets at closing
- $798.0M
- Total deposits at closing
- $678.6M
- Estimated loss to the insurance fund
- $136.0M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First California Bank
Context
On January 23, 2009, regulators closed 1st Centennial Bank, headquartered in Redlands, CA. At closing, the institution held approximately $798.0M in assets and $678.6M in deposits. The FDIC record names First California Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $136.0M.
By assets at closing this is the 263rd largest of the 3,526 bank failures in the FDIC record, and the 34th of 140 in 2009. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did 1st Centennial Bank fail?
1st Centennial Bank was closed by regulators on January 23, 2009.
Who acquired 1st Centennial Bank?
The FDIC record names First California Bank as the acquiring institution in the resolution of 1st Centennial Bank.
How big was 1st Centennial Bank when it failed?
1st Centennial Bank had approximately $798.0M in total assets and $678.6M in deposits at the time of failure.
Other failures in 2009
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 2009 | First Federal Bank of California, a Federal Savings Bank | $6.14B |
| Dec 18, 2009 | Imperial Capital Bank | $4.05B |
| Dec 18, 2009 | Peoples First Community Bank | $1.80B |
| Dec 18, 2009 | New South Federal Savings Bank | $1.46B |
| Dec 18, 2009 | Independent Bankers' Bank | $585.5M |
| Dec 18, 2009 | Rockbridge Commercial Bank | $294.0M |
| Dec 18, 2009 | Citizens State Bank | $168.6M |
| Dec 11, 2009 | Solutionsbank | $511.1M |
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