SOUTH COAST BANK Failed 1985
What happened
SOUTH COAST BANK of COSTA MESA, CA was closed on 1985-04-12. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to HARBOR BANK (LONG BEACH, CA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 976
- FDIC Certificate
- 21984
- FDIC FIN
- 2455
- Bank name
- SOUTH COAST BANK
- Location
- COSTA MESA, CA
- Failure date
- 1985-04-12
- FDIC resolution date
- 1985-04-12
- 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.)
- $1M
- Deposits at failure
- $29M
- Assets at failure
- $31M
- Acquiring bank
- HARBOR BANK (LONG BEACH, CA)