# COMMONWEALTH BANK

> **Failed bank** · TORRANCE, CA · failed 1987-09-25 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $17M

## What happened

COMMONWEALTH BANK of TORRANCE, CA was closed by regulators on **1987-09-25**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **CAPITAL BANK OF CALIFORN** (LOS ANGELES, CA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1524
- **FDIC Certificate:** 22026
- **FDIC FIN:** 2731
- **Bank name:** COMMONWEALTH BANK
- **Location:** TORRANCE, CA
- **Failure date:** 1987-09-25
- **FDIC resolution date:** 1987-09-25
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $17M
- **Deposits at failure:** $84M
- **Assets at failure:** $85M
- **Acquiring bank:** CAPITAL BANK OF CALIFORN (LOS ANGELES, CA)

## Other banks CAPITAL BANK OF CALIFORN has acquired in FDIC resolutions

- VALLEY STATE BANK (LOS ANGELES, CA) — failed 1987-09-28 — /failed-bank/1525

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=COMMONWEALTH%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, COMMONWEALTH BANK (FDIC ID 1524), failed 1987-09-25. Retrieved via AI Analytics 2026-07-16 from https://api.ai-analytics.org/failed-bank/1524.

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