MECHANICS NATIONAL BANK Failed 1994
What happened
MECHANICS NATIONAL BANK of PARAMOUNT, CA was closed on 1994-04-01. The FDIC was named receiver.
Resolution: Payout / Insured deposits — FDIC paid insured deposits directly to depositors
Deposits were transferred to HOME BANK (SIGNAL HILL, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3483
- FDIC Certificate
- 19367
- FDIC FIN
- 4606
- Bank name
- MECHANICS NATIONAL BANK
- Location
- PARAMOUNT, CA
- Failure date
- 1994-04-01
- FDIC resolution date
- 1994-04-01
- Charter type
- National commercial bank (OCC-chartered)
- Resolution type
- Payout / Insured deposits — FDIC paid insured deposits directly to depositors
- FDIC DIF cost (est.)
- $48M
- Deposits at failure
- $149M
- Assets at failure
- $149M
- Acquiring bank
- HOME BANK (SIGNAL HILL, CA)
Other banks HOME BANK acquired in FDIC resolutions