Bank Failure
Western National Bank
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Closed August 27, 1982 · Santa Ana, CA · FDIC Cert #23308.
- Closing date
- August 27, 1982
- Headquarters
- Santa Ana, CA
- FDIC Certificate
- 23308
- Total assets at closing
- $25.6M
- Total deposits at closing
- $21.9M
- Estimated loss to the insurance fund
- $4.2M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Commonwealth Bank
Context
On August 27, 1982, regulators closed Western National Bank, headquartered in Santa Ana, CA. At closing, the institution held approximately $25.6M in assets and $21.9M 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 $4.2M.
By assets at closing this is the 2168th largest of the 3,526 bank failures in the FDIC record, and the 11th 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 Western National Bank fail?
Western National Bank was closed by regulators on August 27, 1982.
Who acquired Western National Bank?
The FDIC record names Commonwealth Bank as the acquiring institution in the resolution of Western National Bank.
How big was Western National Bank when it failed?
Western National Bank had approximately $25.6M in total assets and $21.9M 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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