FIRST CITY BANK Failed 1985
What happened
FIRST CITY BANK of GLENDALE, CA was closed on 1985-12-20. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to STERLING BANK (LOS ANGELES, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1124
- FDIC Certificate
- 22698
- FDIC FIN
- 2526
- Bank name
- FIRST CITY BANK
- Location
- GLENDALE, CA
- Failure date
- 1985-12-20
- FDIC resolution date
- 1985-12-20
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $6M
- Deposits at failure
- $29M
- Assets at failure
- $36M
- Acquiring bank
- STERLING BANK (LOS ANGELES, CA)
Other banks STERLING BANK acquired in FDIC resolutions