Bank failure · CA
American City Bank (Los Angles, CA) — failed February 25, 1983
American City Bank of Los Angles, California was closed on February 25, 1983 and resolved through a purchase and assumption. Central Bank (CA) took over its insured deposits. At failure it held $319.4M in assets and $293.9M in deposits. The FDIC's estimated loss on the failure is $25.3M (7.9% of assets).
- Closing date
- February 25, 1983
- FDIC certificate #
- 19020
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Central Bank
- Insurance fund
- FDIC
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