WILSHIRE CENTER BANK, Failed 1993

What happened

WILSHIRE CENTER BANK, of LOS ANGELES, CA was closed on 1993-05-06. The FDIC was named receiver.

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

Deposits were transferred to CALIFORNIA CENTER BANK (LOS ANGELES, CA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3453

FDIC Certificate

24653

FDIC FIN

4577

Bank name

WILSHIRE CENTER BANK,

Location

LOS ANGELES, CA

Failure date

1993-05-06

FDIC resolution date

1993-05-06

Charter type

National commercial bank (OCC-chartered)

Resolution type

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

FDIC DIF cost (est.)

$6M

Deposits at failure

$9M

Assets at failure

$10M

Acquiring bank

CALIFORNIA CENTER BANK (LOS ANGELES, CA)