Bank Failure
California National Bank
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Closed October 30, 2009 · Los Angeles, CA · FDIC Cert #34659.
- Closing date
- October 30, 2009
- Headquarters
- Los Angeles, CA
- FDIC Certificate
- 34659
- Total assets at closing
- $7.78B
- Total deposits at closing
- $6.15B
- Estimated loss to the insurance fund
- $182.0M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- U.S. Bank, N.A.
Context
On October 30, 2009, regulators closed California National Bank, headquartered in Los Angeles, CA. At closing, the institution held approximately $7.78B in assets and $6.15B in deposits. The FDIC record names U.S. Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $182.0M.
By assets at closing this is the 25th largest of the 3,526 bank failures in the FDIC record, and the 6th 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 California National Bank fail?
California National Bank was closed by regulators on October 30, 2009.
Who acquired California National Bank?
The FDIC record names U.S. Bank, N.A. as the acquiring institution in the resolution of California National Bank.
How big was California National Bank when it failed?
California National Bank had approximately $7.78B in total assets and $6.15B 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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