Bank Failure
Temecula Valley Bank
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Closed July 17, 2009 · Temecula, CA · FDIC Cert #34341.
- Closing date
- July 17, 2009
- Headquarters
- Temecula, CA
- FDIC Certificate
- 34341
- Total assets at closing
- $1.40B
- Total deposits at closing
- $1.28B
- Estimated loss to the insurance fund
- $227.4M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First-Citizens Bank and Trust Company
Context
On July 17, 2009, regulators closed Temecula Valley Bank, headquartered in Temecula, CA. At closing, the institution held approximately $1.40B in assets and $1.28B in deposits. The FDIC record names First-Citizens Bank and Trust Company as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $227.4M.
By assets at closing this is the 163rd largest of the 3,526 bank failures in the FDIC record, and the 24th of 140 in 2009. 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 Temecula Valley Bank fail?
Temecula Valley Bank was closed by regulators on July 17, 2009.
Who acquired Temecula Valley Bank?
The FDIC record names First-Citizens Bank and Trust Company as the acquiring institution in the resolution of Temecula Valley Bank.
How big was Temecula Valley Bank when it failed?
Temecula Valley Bank had approximately $1.40B in total assets and $1.28B in deposits at the time of failure.
Other failures in 2009
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 2009 | First Federal Bank of California, a Federal Savings Bank | $6.14B |
| Dec 18, 2009 | Imperial Capital Bank | $4.05B |
| Dec 18, 2009 | Peoples First Community Bank | $1.80B |
| Dec 18, 2009 | New South Federal Savings Bank | $1.46B |
| Dec 18, 2009 | Independent Bankers' Bank | $585.5M |
| Dec 18, 2009 | Rockbridge Commercial Bank | $294.0M |
| Dec 18, 2009 | Citizens State Bank | $168.6M |
| Dec 11, 2009 | Solutionsbank | $511.1M |
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