OLYMPIC NATIONAL BANK Failed 1993
What happened
OLYMPIC NATIONAL BANK of LOS ANGELES, CA was closed on 1993-04-02. The FDIC was named receiver.
Resolution: Payout / Insured deposits — FDIC paid insured deposits directly to depositors
Deposits were transferred to WESTERN BANK (LOS ANGELES, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3447
- FDIC Certificate
- 24564
- FDIC FIN
- 4570
- Bank name
- OLYMPIC NATIONAL BANK
- Location
- LOS ANGELES, CA
- Failure date
- 1993-04-02
- FDIC resolution date
- 1993-04-02
- Charter type
- National commercial bank (OCC-chartered)
- Resolution type
- Payout / Insured deposits — FDIC paid insured deposits directly to depositors
- FDIC DIF cost (est.)
- $25M
- Deposits at failure
- $80M
- Assets at failure
- $82M
- Acquiring bank
- WESTERN BANK (LOS ANGELES, CA)
Other banks WESTERN BANK acquired in FDIC resolutions