PALOS VERDES NATIONAL BANK Failed 1993

What happened

PALOS VERDES NATIONAL BANK of ROLLING HILLS EST, CA was closed on 1993-05-21. The FDIC was named receiver.

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

Deposits were transferred to PENINSULA BANK NATIONAL (ROLLING HILLS ES, CA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3456

FDIC Certificate

23796

FDIC FIN

4579

Bank name

PALOS VERDES NATIONAL BANK

Location

ROLLING HILLS EST, CA

Failure date

1993-05-21

FDIC resolution date

1993-05-21

Charter type

National commercial bank (OCC-chartered)

Resolution type

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

FDIC DIF cost (est.)

$10M

Deposits at failure

$48M

Assets at failure

$46M

Acquiring bank

PENINSULA BANK NATIONAL (ROLLING HILLS ES, CA)