AMERICAN CITY BANK Failed 1983
What happened
AMERICAN CITY BANK of LOS ANGLES, CA was closed on 1983-02-25. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CENTRAL BANK (SAN FRANCISCO, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 754
- FDIC Certificate
- 19020
- FDIC FIN
- 2336
- Bank name
- AMERICAN CITY BANK
- Location
- LOS ANGLES, CA
- Failure date
- 1983-02-25
- FDIC resolution date
- 1983-02-25
- 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.)
- $25M
- Deposits at failure
- $294M
- Assets at failure
- $319M
- Acquiring bank
- CENTRAL BANK (SAN FRANCISCO, CA)
Other banks CENTRAL BANK acquired in FDIC resolutions