FIRST WESTERN BANK, N.A. Failed 1993

What happened

FIRST WESTERN BANK, N.A. of SAN DIEGO, CA was closed on 1993-04-15. The FDIC was named receiver.

Resolution: Payout / Insured deposits — FDIC paid insured deposits directly to depositors

Deposits were transferred to PENINSULA BANK OF SAN DI (SAN DIEGO, CA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3450

FDIC Certificate

24676

FDIC FIN

4574

Bank name

FIRST WESTERN BANK, N.A.

Location

SAN DIEGO, CA

Failure date

1993-04-15

FDIC resolution date

1993-04-15

Charter type

National commercial bank (OCC-chartered)

Resolution type

Payout / Insured deposits — FDIC paid insured deposits directly to depositors

FDIC DIF cost (est.)

$3M

Deposits at failure

$15M

Assets at failure

$16M

Acquiring bank

PENINSULA BANK OF SAN DI (SAN DIEGO, CA)