# CORNERSTONE BANK FSB

> **Failed bank** · MISSION VIEJO, CA · failed 1994-12-16 · Savings bank · FDIC cost $4M

## What happened

CORNERSTONE BANK FSB of MISSION VIEJO, CA was closed by state regulators on **1994-12-16**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **CALIFORNIA FB, A FSB** (LOS ANGELES, CA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3497
- **FDIC Certificate:** 32374
- **FDIC FIN:** 1308
- **Bank name:** CORNERSTONE BANK FSB
- **Location:** MISSION VIEJO, CA
- **Failure date:** 1994-12-16
- **FDIC resolution date:** 1994-12-16
- **Charter type:** Savings bank
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $4M
- **Deposits at failure:** $38M
- **Assets at failure:** $44M
- **Acquiring bank:** CALIFORNIA FB, A FSB (LOS ANGELES, CA)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=CORNERSTONE%20BANK%20FSB

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, CORNERSTONE BANK FSB (FDIC ID 3497), failed 1994-12-16. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/3497.

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