Bank Failure
First California Bank
BankRegReports is independent of First California Bank and never asks for online banking logins or passwords.
Closed July 9, 1993 · La Mesa, CA · FDIC Cert #26488.
- Closing date
- July 9, 1993
- Headquarters
- La Mesa, CA
- FDIC Certificate
- 26488
- Total assets at closing
- $79.4M
- Total deposits at closing
- $77.0M
- Estimated loss to the insurance fund
- $14.3M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Valle De Oro Bank N.A.
Context
On July 9, 1993, regulators closed First California Bank, headquartered in La Mesa, CA. At closing, the institution held approximately $79.4M in assets and $77.0M in deposits. The FDIC record names Valle De Oro Bank N.A. as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $14.3M.
By assets at closing this is the 1343rd largest of the 3,526 bank failures in the FDIC record, and the 18th of 50 in 1993. 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 First California Bank fail?
First California Bank was closed by regulators on July 9, 1993.
Who acquired First California Bank?
The FDIC record names Valle De Oro Bank N.A. as the acquiring institution in the resolution of First California Bank.
How big was First California Bank when it failed?
First California Bank had approximately $79.4M in total assets and $77.0M in deposits at the time of failure.
Other failures in 1993
| Date | Bank | Assets |
|---|---|---|
| Nov 5, 1993 | Century Thrift and Loan | $31.9M |
| Oct 29, 1993 | The Bank of San Diego | $294.3M |
| Oct 21, 1993 | Mid City Bank, N.A. | $105.7M |
| Oct 15, 1993 | Brentwood Thrift and Loan Association | $12.9M |
| Oct 14, 1993 | Plaza Bank, N.A. of New Braunfels | $54.6M |
| Sep 24, 1993 | Westside Bank, FSB | $81.7M |
| Sep 24, 1993 | Western United National Bank | $23.7M |
| Sep 17, 1993 | Regent Thrift and Loan Association | $35.8M |
Explore: all failures · CA bank events · 1993 events · events hub