Bank Failure
Capital Bank
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Closed August 26, 1994 · Downey, CA · FDIC Cert #3432.
- Closing date
- August 26, 1994
- Headquarters
- Downey, CA
- FDIC Certificate
- 3432
- Total assets at closing
- $76.9M
- Total deposits at closing
- $74.4M
- Estimated loss to the insurance fund
- $17.8M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Landmark Bank
Context
On August 26, 1994, regulators closed Capital Bank, headquartered in Downey, CA. At closing, the institution held approximately $76.9M in assets and $74.4M in deposits. The FDIC record names Landmark Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $17.8M.
By assets at closing this is the 1363rd largest of the 3,526 bank failures in the FDIC record, and the 9th of 15 in 1994. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Capital Bank fail?
Capital Bank was closed by regulators on August 26, 1994.
Who acquired Capital Bank?
The FDIC record names Landmark Bank as the acquiring institution in the resolution of Capital Bank.
How big was Capital Bank when it failed?
Capital Bank had approximately $76.9M in total assets and $74.4M in deposits at the time of failure.
Other failures in 1994
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1994 | Cornerstone Bank FSB | $44.3M |
| Oct 21, 1994 | Ludlow Savings Bank | $222.7M |
| Aug 12, 1994 | Bank of Newport | $167.8M |
| Jul 29, 1994 | Commerce Bank | $142.3M |
| Jul 29, 1994 | Western Community Bank | $54.0M |
| Jul 15, 1994 | Bank of San Pedro | $132.6M |
| Jul 8, 1994 | Pioneer Bank | $133.2M |
| Jul 7, 1994 | The Meriden Trust and Safe Deposit | $3.2M |
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