FIRST PACIFIC BANK Failed 1990

What happened

FIRST PACIFIC BANK of BEVERLY HILLS, CA was closed on 1990-08-10. The FDIC was named receiver.

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

Deposits were transferred to COMMERCIAL CENTER BANK (SANTA ANA, CA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

2870

FDIC Certificate

20816

FDIC FIN

4258

Bank name

FIRST PACIFIC BANK

Location

BEVERLY HILLS, CA

Failure date

1990-08-10

FDIC resolution date

1990-08-10

Charter type

State commercial bank, non-Federal Reserve member (FDIC-supervised)

Resolution type

Insured Deposit Transfer — insured deposits transferred to another bank

FDIC DIF cost (est.)

$43M

Deposits at failure

$113M

Assets at failure

$119M

Acquiring bank

COMMERCIAL CENTER BANK (SANTA ANA, CA)