NEW CITY BANK Failed 1987
What happened
NEW CITY BANK of ORANGE, CA was closed on 1987-03-20. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to COLONIAL BANK NATIONAL A (ORANGE, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 1396
- FDIC Certificate
- 24789
- FDIC FIN
- 2668
- Bank name
- NEW CITY BANK
- Location
- ORANGE, CA
- Failure date
- 1987-03-20
- FDIC resolution date
- 1987-03-20
- 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
- $26M
- Assets at failure
- $26M
- Acquiring bank
- COLONIAL BANK NATIONAL A (ORANGE, CA)