Failures by State

Bank Failures in California

238 FDIC-insured banks headquartered in California have failed since 1940, the 2nd most of any state or territory. The most recent was First Republic Bank on May 1, 2023. The worst year was 1989, with 28 failures. Failed banks held $624.99B in assets at closing.

238

Failures

1940 to 2023

$624.99B

Failed assets

At closing

$61.40B

Estimated DIF loss

FDIC estimate

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Largest bank failures in California

Date	Bank	City	Assets	Acquirer or resolution
May 1, 2023	First Republic Bank	San Francisco	$212.64B	JPMorgan Chase Bank, N.A.
Mar 10, 2023	Silicon Valley Bank	Santa Clara	$209.03B	First-Citizens Bank & Trust Company
Jul 11, 2008	Indymac Bank F.S.B	Pasadena	$30.70B	Onewest Bank, FSB
Mar 31, 1989	Gibraltar Savings, F.A.	Simi Valley	$13.38B	Security Pacific NB, N.A.
Nov 21, 2008	Downey Savings and Loan Association, F.A.	Newport Beach	$12.78B	U.S. Bank, N.A.
Jul 6, 1992	Homefed Bank, F.A.	San Diego	$12.18B	Branch sale
Nov 6, 2009	United Commercial Bank	San Francisco	$10.90B	East West Bank
Feb 23, 1990	Imperial Federal Savings Assoc.	San Diego	$9.58B	Branch sale
Aug 9, 1991	Great American FSA	San Diego	$9.52B	Branch sale
Oct 30, 2009	California National Bank	Los Angeles	$7.78B	U.S. Bank, N.A.

California bank failures by year

Year	Failures	Failed assets
2023	2	$421.66B
2014	1	$80.7M
2012	1	$129.3M
2011	4	$953.1M
2010	12	$9.21B
2009	17	$45.36B
2008	5	$47.98B
2003	1	$904.3M
2000	1	$7.9M
1999	1	$127.3M
1996	2	$44.1M
1995	5	$1.08B
1994	10	$1.00B
1993	24	$5.44B
1992	18	$17.03B
1991	21	$22.92B
1990	21	$19.45B
1989	28	$23.24B
1988	3	$111.2M
1987	12	$844.7M
1986	17	$2.46B
1985	11	$1.68B
1984	7	$1.41B
1983	6	$455.1M
1982	2	$35.3M
1976	1	$56.0M
1973	1	$1.27B
1965	1	$54.1M
1964	1	$2.6M
1955	1	$3.1M
1940	1	—

Every bank failure in California

Date	Bank	City	Assets	Acquirer or resolution
Jul 20, 1989	Sierra S & L Assoc.	Beverly Hills	$40.7M	Sun SB, FSB
Jul 20, 1989	American Interstate Sa	Los Angeles	$24.9M	Deposit payout
Jun 29, 1989	First FED. S & L Assoc.	Bakersfield	$126.4M	Bank of America Ntsa
Jun 29, 1989	The Guardian FED. S & L Assoc.	Bakersfield	$29.4M	Bank of America Ntsa
Apr 27, 1989	Southwest Federal Savings Assoc.	Los Angeles	$896.8M	Bank of America, N.A.
Apr 27, 1989	Westco Savings Bank, FSB	Wilmington	$188.3M	Frontier Bank, N.A.
Apr 14, 1989	Lincoln Savings & Loan	Irvine	$4.86B	Great Western Bank, FSB
Apr 6, 1989	Independence S & L Assoc.	Vallejo	$440.0M	Bay View FS&LA
Apr 6, 1989	First California Savings	Orange	$161.4M	First American Bank
Apr 6, 1989	Founders Federal S & L	Los Angeles	$134.7M	Founders NB of Los Angeles
Apr 6, 1989	Gateway Federal Savings Bank	Oakland	$72.7M	Gateway Bank, FSB
Apr 6, 1989	Cabrillo Federal Savings Bank	San Jose	$71.8M	Financial Center Bank, N.A.
Apr 6, 1989	Washington S & L Assoc.	Stockton	$66.7M	Security Pacific NB, N.A.
Apr 6, 1989	Arrowhead Pacific Federal Savings	San Bernardino	$60.2M	Deposit payout
Apr 6, 1989	Unified Savings FS & La	Northridge	$35.1M	Deposit payout
Apr 6, 1989	Royal Oak S & L Assoc.	Manteca	$34.4M	Bank of Stockton
Apr 6, 1989	City S & L Assoc.	Westlake Village	$33.3M	Olympia NB
Apr 6, 1989	City Federal S & L Assoc.	Oakland	$20.3M	Mission NB
Apr 6, 1989	Perpetual Savings Association	Santa Ana	$18.7M	Bank of Industry
Mar 31, 1989	Gibraltar Savings, F.A.	Simi Valley	$13.38B	Security Pacific NB, N.A.
Feb 17, 1989	Westwood S & L Assoc.	Los Angeles	$328.4M	Fidelity FB, FSB
Feb 10, 1989	Signal S&LA	Signal Hill	$46.1M	—
Feb 7, 1989	Pacific Savings Bank	Costa Mesa	$1.12B	Royal Trust Holdings
Jan 27, 1989	Carver S&LA	Escondido	$265.8M	—
Jul 29, 1988	Westlake Thrift & Loan Association	Westlake Village	$55.2M	Independence Bank
Apr 15, 1988	Colonial Thrift & Loan Association	Culver City	$26.8M	Southern Pacific TH&L As
Jan 14, 1988	Balboa National Bank	National City	$29.3M	—
Oct 30, 1987	Delta Pacific Bank	Pittsburg	$17.7M	Central Bank
Oct 15, 1987	First California Savings Bank	San Fernando	$220.6M	—
Sep 28, 1987	Valley State Bank	Los Angeles	$93.2M	Capital Bank of Californ
Sep 25, 1987	Commonwealth Bank	Torrance	$85.1M	Capital Bank of Californ
Jul 30, 1987	Empire National Bank	Los Angeles	$8.8M	—
Jul 23, 1987	Bank of Los Gatos, N.A.	Los Gatos	$13.1M	Bank of the West
Jun 12, 1987	Whittier Thrift & Loan	Whittier	$15.2M	Liberty Thrift&loan
Mar 27, 1987	Equitable S&LA	Stanton	$58.9M	—
Mar 20, 1987	New City Bank	Orange	$26.0M	Colonial Bank National a
Mar 18, 1987	Perpetual SB	Los Angeles	$62.5M	—
Jan 23, 1987	North America S&LA	Santa Anna	$220.3M	—
Jan 23, 1987	First Sierra Bank	Bishop	$23.2M	Security Pacific NB
Nov 20, 1986	First National Bank	Willows	$63.0M	First Interstate CNTL Ba
Nov 14, 1986	The Bank of Northern California	San Jose	$16.1M	Pacific Valley Bank
Oct 10, 1986	Unified Savings Bank	Northridge	$102.8M	—
Oct 9, 1986	Independent National Bank	Covina	$28.3M	Chino Valley Bank
Oct 2, 1986	Frontier National Bank	Vista	$9.9M	Rancho Vista National Ba
Sep 12, 1986	Ramona S&LA	Fillmore	$108.1M	Midwest FS&LA of Minneapoli
Jun 27, 1986	Orange Coast Thrift & Loan Association	Los Alamitos	$14.0M	Capitol Thrift&loan Assn
May 31, 1986	Seapointe S&LA	Carlsbad	$17.3M	—
May 22, 1986	Consolidated Savings Bank	Irvine	$84.4M	—
May 15, 1986	Saddleback National Bank	Laguna Hills	$13.5M	Landmark Bank
Apr 14, 1986	Gateway SB	San Francisco	$155.9M	—

Source: FDIC failed-bank list. Counts are real closures by headquarters state; FDIC open-bank assistance transactions are not failures and are excluded. Assets and deposits are as reported at closing.

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