Bank Failure
La Jolla Bank, FSB
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Closed February 19, 2010 · La Jolla, CA · FDIC Cert #32423.
- Closing date
- February 19, 2010
- Headquarters
- La Jolla, CA
- FDIC Certificate
- 32423
- Total assets at closing
- $3.65B
- Total deposits at closing
- $2.80B
- Estimated loss to the insurance fund
- $560.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Onewest Bank, FSB
Context
On February 19, 2010, regulators closed La Jolla Bank, FSB, headquartered in La Jolla, CA. At closing, the institution held approximately $3.65B in assets and $2.80B in deposits. The FDIC record names Onewest Bank, FSB as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $560.1M.
By assets at closing this is the 57th largest of the 3,526 bank failures in the FDIC record, and the 3rd 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 La Jolla Bank, FSB fail?
La Jolla Bank, FSB was closed by regulators on February 19, 2010.
Who acquired La Jolla Bank, FSB?
The FDIC record names Onewest Bank, FSB as the acquiring institution in the resolution of La Jolla Bank, FSB.
How big was La Jolla Bank, FSB when it failed?
La Jolla Bank, FSB had approximately $3.65B in total assets and $2.80B 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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