Bank failure · CA
1st Centennial Bank (Redlands, CA) — failed January 23, 2009
1st Centennial Bank of Redlands, California was closed on January 23, 2009 and resolved through a purchase and assumption (insured deposits). First California Bank (CA) took over its insured deposits. At failure it held $798.0M in assets and $678.6M in deposits. The FDIC's estimated loss on the failure is $136.0M (17.0% of assets).
- Closing date
- January 23, 2009
- FDIC certificate #
- 33025
- Resolution
- Purchase and assumption (insured deposits) (failure)
- Acquiring institution
- First California Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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