Bank Failure
1st Pacific Bank of California
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Closed May 7, 2010 · San Diego, CA · FDIC Cert #35517.
- Closing date
- May 7, 2010
- Headquarters
- San Diego, CA
- FDIC Certificate
- 35517
- Total assets at closing
- $335.8M
- Total deposits at closing
- $291.2M
- Estimated loss to the insurance fund
- $6.3M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- City National Bank
Context
On May 7, 2010, regulators closed 1st Pacific Bank of California, headquartered in San Diego, CA. At closing, the institution held approximately $335.8M in assets and $291.2M in deposits. The FDIC record names City National Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $6.3M.
By assets at closing this is the 512th largest of the 3,526 bank failures in the FDIC record, and the 67th of 157 in 2010. 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 Pacific Bank of California fail?
1st Pacific Bank of California was closed by regulators on May 7, 2010.
Who acquired 1st Pacific Bank of California?
The FDIC record names City National Bank as the acquiring institution in the resolution of 1st Pacific Bank of California.
How big was 1st Pacific Bank of California when it failed?
1st Pacific Bank of California had approximately $335.8M in total assets and $291.2M in deposits at the time of failure.
Other failures in 2010
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2010 | The Bank of Miami | $448.1M |
| Dec 17, 2010 | Chestatee State Bank | $244.4M |
| Dec 17, 2010 | United Americas Bank | $242.3M |
| Dec 17, 2010 | First Southern Bank | $191.8M |
| Dec 17, 2010 | Appalacian Community Bank, F.S.B. | $68.2M |
| Dec 17, 2010 | Community National Bank | $31.6M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Dec 10, 2010 | Earthstar Bank | $112.6M |
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