FIRST CALIFORNIA SAVINGS Failed 1989

What happened

FIRST CALIFORNIA SAVINGS of ORANGE, CA was closed on 1989-04-06. The FDIC was named receiver.

Resolution: Insured Deposit Transfer — insured deposits transferred to another bank

Deposits were transferred to FIRST AMERICAN BANK (ROSEMEAD, CA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2351

FDIC Certificate

32560

FDIC FIN

6925

Bank name

FIRST CALIFORNIA SAVINGS

Location

ORANGE, CA

Failure date

1989-04-06

FDIC resolution date

1989-09-22

Charter type

SL

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$74M

Deposits at failure

$194M

Assets at failure

$161M

Acquiring bank

FIRST AMERICAN BANK (ROSEMEAD, CA)

FDIC comments

FSLIC-RTC Duplicate Failures

Other banks FIRST AMERICAN BANK acquired in FDIC resolutions

• HIGH DESERT STATE BANK (ALBUQUERQUE, NM) — failed 2010-06-25
• TOWN COMMUNITY BANK AND TRUST (ANTIOCH, IL) — failed 2010-01-15
• UNITED CITIZENS BANK, NATIONAL ASSOC (COLLEGE STATION, TX) — failed 1991-02-28
• TEXAS COMMERCIAL SA (SULPHUR SPRINGS, TX) — failed 1990-09-21
• UNIVERSITY NATIONAL BANK OF COLLEGE STATIO (COLLEGE STATION, TX) — failed 1990-03-08
• FIRST BANK & TRUST (BRYAN, TX) — failed 1989-02-09
• FARMERS NATIONAL BANK OF ERICK (ERICK, OK) — failed 1985-02-07