INNOVATIVE BANK Failed 2010

OAKLAND, CA · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

INNOVATIVE BANK of OAKLAND, CA was closed on 2010-04-16. The FDIC was named receiver.

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

Deposits were transferred to CENTER BANK (LOS ANGELES, CA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3777
FDIC Certificate
23876
FDIC FIN
10214
Bank name
INNOVATIVE BANK
Location
OAKLAND, CA
Failure date
2010-04-16
FDIC resolution date
2010-04-16
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.)
$23M
Deposits at failure
$223M
Assets at failure
$267M
Acquiring bank
CENTER BANK (LOS ANGELES, CA)