Bank Failure
Pacific Thrift and Loan Co
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Closed November 22, 1999 · Woodland Hills, CA · FDIC Cert #27415.
- Closing date
- November 22, 1999
- Headquarters
- Woodland Hills, CA
- FDIC Certificate
- 27415
- Total assets at closing
- $127.3M
- Total deposits at closing
- $119.5M
- Estimated loss to the insurance fund
- $42.0M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Affinity Bank
Context
On November 22, 1999, regulators closed Pacific Thrift and Loan Co, headquartered in Woodland Hills, CA. At closing, the institution held approximately $127.3M in assets and $119.5M in deposits. The FDIC record names Affinity Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $42.0M.
By assets at closing this is the 1050th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 8 in 1999. It falls in the period the record labels Consolidation Calm (1996-2007), a period with 50 failures peaking at 11 in 2002.
Riegle-Neal interstate-banking era. Industry consolidated rapidly via merger; failure counts dropped to single digits per year.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Pacific Thrift and Loan Co fail?
Pacific Thrift and Loan Co was closed by regulators on November 22, 1999.
Who acquired Pacific Thrift and Loan Co?
The FDIC record names Affinity Bank as the acquiring institution in the resolution of Pacific Thrift and Loan Co.
How big was Pacific Thrift and Loan Co when it failed?
Pacific Thrift and Loan Co had approximately $127.3M in total assets and $119.5M in deposits at the time of failure.
Other failures in 1999
| Date | Bank | Assets |
|---|---|---|
| Dec 10, 1999 | Golden City Commercial Bank | $87.2M |
| Sep 10, 1999 | Peoples NB of Commerce | $36.8M |
| Sep 1, 1999 | First NB of Keystone | $1.12B |
| Jul 9, 1999 | East Texas NB of Marshall | $121.6M |
| Jul 9, 1999 | Oceanmark Bank, a FSB | $69.0M |
| Apr 23, 1999 | Zia New Mexico Bank | $17.3M |
| Mar 26, 1999 | Victory State Bank | $13.2M |
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