VALLEY STATE BANK Failed 1987
What happened
VALLEY STATE BANK of LOS ANGELES, CA was closed on 1987-09-28. 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
- 1525
- FDIC Certificate
- 22857
- FDIC FIN
- 2732
- Bank name
- VALLEY STATE BANK
- Location
- LOS ANGELES, CA
- Failure date
- 1987-09-28
- FDIC resolution date
- 1987-09-28
- 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.)
- $2M
- Deposits at failure
- $92M
- Assets at failure
- $93M
- Acquiring bank
- CAPITAL BANK OF CALIFORN (LOS ANGELES, CA)
Other banks CAPITAL BANK OF CALIFORN acquired in FDIC resolutions