Bank Failure
Pacific State Bank
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Closed August 20, 2010 · Stockton, CA · FDIC Cert #27090.
- Closing date
- August 20, 2010
- Headquarters
- Stockton, CA
- FDIC Certificate
- 27090
- Total assets at closing
- $312.1M
- Total deposits at closing
- $278.8M
- Estimated loss to the insurance fund
- $34.0M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Rabobank, N.A.
Context
On August 20, 2010, regulators closed Pacific State Bank, headquartered in Stockton, CA. At closing, the institution held approximately $312.1M in assets and $278.8M in deposits. The FDIC record names Rabobank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $34.0M.
By assets at closing this is the 548th largest of the 3,526 bank failures in the FDIC record, and the 69th 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 Pacific State Bank fail?
Pacific State Bank was closed by regulators on August 20, 2010.
Who acquired Pacific State Bank?
The FDIC record names Rabobank, N.A. as the acquiring institution in the resolution of Pacific State Bank.
How big was Pacific State Bank when it failed?
Pacific State Bank had approximately $312.1M in total assets and $278.8M 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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