Bank failure · CA
Alvarado Bank (Richmond, CA) — failed January 25, 1991
Alvarado Bank of Richmond, California was closed on January 25, 1991 and resolved through a purchase and assumption. Pacific Bay Bank (CA) took over its insured deposits. At failure it held $33.5M in assets and $32.1M in deposits. The FDIC's estimated loss on the failure is $4.3M (12.9% of assets).
- Closing date
- January 25, 1991
- FDIC certificate #
- 24568
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Pacific Bay Bank
- Insurance fund
- BIF
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