WEST OLYMPIA BANK Failed 1984
What happened
WEST OLYMPIA BANK of LOS ANGELES, CA was closed on 1984-02-10. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to WILSHIRE STATE BANK (LOS ANGELES, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 850
- FDIC Certificate
- 19282
- FDIC FIN
- 2374
- Bank name
- WEST OLYMPIA BANK
- Location
- LOS ANGELES, CA
- Failure date
- 1984-02-10
- FDIC resolution date
- 1984-02-10
- 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.)
- $3M
- Deposits at failure
- $20M
- Assets at failure
- $20M
- Acquiring bank
- WILSHIRE STATE BANK (LOS ANGELES, CA)
Other banks WILSHIRE STATE BANK acquired in FDIC resolutions