ALVARADO BANK Failed 1991

RICHMOND, CA · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

ALVARADO BANK of RICHMOND, CA was closed on 1991-01-25. The FDIC was named receiver.

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

Deposits were transferred to PACIFIC BAY BANK (RICHMOND, CA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
2997
FDIC Certificate
24568
FDIC FIN
4315
Bank name
ALVARADO BANK
Location
RICHMOND, CA
Failure date
1991-01-25
FDIC resolution date
1991-01-25
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.)
$4M
Deposits at failure
$32M
Assets at failure
$33M
Acquiring bank
PACIFIC BAY BANK (RICHMOND, CA)