Bank Failure
First Federal Bank of California, a Federal Savings Bank
BankRegReports is independent of First Federal Bank of California, a Federal Savings Bank and never asks for online banking logins or passwords.
Closed December 18, 2009 · Santa Monica, CA · FDIC Cert #28536.
- Closing date
- December 18, 2009
- Headquarters
- Santa Monica, CA
- FDIC Certificate
- 28536
- Total assets at closing
- $6.14B
- Total deposits at closing
- $4.54B
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this failure)
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Onewest Bank, FSB
Context
On December 18, 2009, regulators closed First Federal Bank of California, a Federal Savings Bank, headquartered in Santa Monica, CA. At closing, the institution held approximately $6.14B in assets and $4.54B in deposits. The FDIC record names Onewest Bank, FSB as the acquiring institution in the resolution.
By assets at closing this is the 31st largest of the 3,526 bank failures in the FDIC record, and the 8th 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 First Federal Bank of California, a Federal Savings Bank fail?
First Federal Bank of California, a Federal Savings Bank was closed by regulators on December 18, 2009.
Who acquired First Federal Bank of California, a Federal Savings Bank?
The FDIC record names Onewest Bank, FSB as the acquiring institution in the resolution of First Federal Bank of California, a Federal Savings Bank.
How big was First Federal Bank of California, a Federal Savings Bank when it failed?
First Federal Bank of California, a Federal Savings Bank had approximately $6.14B in total assets and $4.54B in deposits at the time of failure.
Other failures in 2009
| Date | Bank | Assets |
|---|---|---|
| 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 |
| Dec 11, 2009 | Republic Federal Bank, N.A. | $433.0M |
Explore: all failures · CA bank events · Bank failures in California · 2009 events · events hub