SECURITY PACIFIC BANK Failed 2008
What happened
SECURITY PACIFIC BANK of SAN DIEGO, CA was closed on 2008-11-07. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to PACIFIC WESTERN BANK (SAN DIEGO, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3573
- FDIC Certificate
- 23595
- FDIC FIN
- 10020
- Bank name
- SECURITY PACIFIC BANK
- Location
- SAN DIEGO, CA
- Failure date
- 2008-11-07
- FDIC resolution date
- 2008-11-07
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $148M
- Deposits at failure
- $456M
- Assets at failure
- $528M
- Acquiring bank
- PACIFIC WESTERN BANK (SAN DIEGO, CA)
Other banks PACIFIC WESTERN BANK acquired in FDIC resolutions