Bank Failure
Alliance Bank
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Closed February 6, 2009 · Culver City, CA · FDIC Cert #23124.
- Closing date
- February 6, 2009
- Headquarters
- Culver City, CA
- FDIC Certificate
- 23124
- Total assets at closing
- $1.11B
- Total deposits at closing
- $951.1M
- Estimated loss to the insurance fund
- $118.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- California Bank and Trust
Context
On February 6, 2009, regulators closed Alliance Bank, headquartered in Culver City, CA. At closing, the institution held approximately $1.11B in assets and $951.1M in deposits. The FDIC record names California Bank and Trust as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $118.1M.
By assets at closing this is the 193rd largest of the 3,526 bank failures in the FDIC record, and the 27th 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 Alliance Bank fail?
Alliance Bank was closed by regulators on February 6, 2009.
Who acquired Alliance Bank?
The FDIC record names California Bank and Trust as the acquiring institution in the resolution of Alliance Bank.
How big was Alliance Bank when it failed?
Alliance Bank had approximately $1.11B in total assets and $951.1M 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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