FIRST VIETNAMESE AMERICAN BANK Failed 2010

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

What happened

FIRST VIETNAMESE AMERICAN BANK of WESTMINSTER, CA was closed on 2010-11-05. The FDIC was named receiver.

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

Deposits were transferred to GRANDPOINT BANK (SANTA ANA, CA). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3875
FDIC Certificate
57885
FDIC FIN
10307
Bank name
FIRST VIETNAMESE AMERICAN BANK
Location
WESTMINSTER, CA
Failure date
2010-11-05
FDIC resolution date
2010-11-05
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.)
$14M
Deposits at failure
$47M
Assets at failure
$48M
Acquiring bank
GRANDPOINT BANK (SANTA ANA, CA)