Bank Failure
Pacific Coast Bank
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Closed April 29, 1982 · San Diego, CA · FDIC Cert #20988.
- Closing date
- April 29, 1982
- Headquarters
- San Diego, CA
- FDIC Certificate
- 20988
- Total assets at closing
- $9.8M
- Total deposits at closing
- $8.7M
- Estimated loss to the insurance fund
- $4.9M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Commonwealth Bank
Context
On April 29, 1982, regulators closed Pacific Coast Bank, headquartered in San Diego, CA. At closing, the institution held approximately $9.8M in assets and $8.7M in deposits. The FDIC record names Commonwealth Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $4.9M.
By assets at closing this is the 2778th largest of the 3,526 bank failures in the FDIC record, and the 27th of 34 in 1982. 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 Pacific Coast Bank fail?
Pacific Coast Bank was closed by regulators on April 29, 1982.
Who acquired Pacific Coast Bank?
The FDIC record names Commonwealth Bank as the acquiring institution in the resolution of Pacific Coast Bank.
How big was Pacific Coast Bank when it failed?
Pacific Coast Bank had approximately $9.8M in total assets and $8.7M in deposits at the time of failure.
Other failures in 1982
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1982 | The Security State Bank | $11.6M |
| Dec 10, 1982 | Bollinger County Bank | $15.9M |
| Nov 19, 1982 | North Kansas Sa | $36.5M |
| Nov 19, 1982 | Ranchlander National Bank | $4.3M |
| Nov 12, 1982 | Bank of Quitman | $17.4M |
| Nov 5, 1982 | The First National Bank of South Charlesto | $28.6M |
| Nov 5, 1982 | Texas BK of Amarillo | $13.1M |
| Nov 2, 1982 | Cedar Bluff Bank | $13.7M |
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