Bank Failure
First Regional Bank
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Closed January 29, 2010 · Los Angeles, CA · FDIC Cert #23011.
- Closing date
- January 29, 2010
- Headquarters
- Los Angeles, CA
- FDIC Certificate
- 23011
- Total assets at closing
- $2.08B
- Total deposits at closing
- $1.66B
- Estimated loss to the insurance fund
- $224.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First-Citizens Bank & Trust Company
Context
On January 29, 2010, regulators closed First Regional Bank, headquartered in Los Angeles, CA. At closing, the institution held approximately $2.08B in assets and $1.66B in deposits. The FDIC record names First-Citizens Bank & Trust Company as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $224.1M.
By assets at closing this is the 103rd largest of the 3,526 bank failures in the FDIC record, and the 11th of 157 in 2010. 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 Regional Bank fail?
First Regional Bank was closed by regulators on January 29, 2010.
Who acquired First Regional Bank?
The FDIC record names First-Citizens Bank & Trust Company as the acquiring institution in the resolution of First Regional Bank.
How big was First Regional Bank when it failed?
First Regional Bank had approximately $2.08B in total assets and $1.66B in deposits at the time of failure.
Other failures in 2010
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2010 | The Bank of Miami | $448.1M |
| Dec 17, 2010 | Chestatee State Bank | $244.4M |
| Dec 17, 2010 | United Americas Bank | $242.3M |
| Dec 17, 2010 | First Southern Bank | $191.8M |
| Dec 17, 2010 | Appalacian Community Bank, F.S.B. | $68.2M |
| Dec 17, 2010 | Community National Bank | $31.6M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Dec 10, 2010 | Earthstar Bank | $112.6M |
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