# SOUTHERN PACIFIC BANK

> **Failed bank** · TORRANCE, CA · failed 2003-02-07 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $49M

## What happened

SOUTHERN PACIFIC BANK of TORRANCE, CA was closed by regulators on **2003-02-07**. The FDIC was named receiver.

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

Deposits were transferred to **BEAL BANK S.S.B.** (PLANO, TX). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3546
- **FDIC Certificate:** 27094
- **FDIC FIN:** 4660
- **Bank name:** SOUTHERN PACIFIC BANK
- **Location:** TORRANCE, CA
- **Failure date:** 2003-02-07
- **FDIC resolution date:** 2003-02-07
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Payout / Insured deposits — FDIC paid insured deposits directly to depositors
- **Estimated FDIC DIF cost:** $49M
- **Deposits at failure:** $864M
- **Assets at failure:** $904M
- **Acquiring bank:** BEAL BANK S.S.B. (PLANO, TX)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, SOUTHERN PACIFIC BANK (FDIC ID 3546), failed 2003-02-07. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/3546.

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