Bank failure · CA

American Interstate Bank (Newport Beach, CA) — failed June 12, 1992

American Interstate Bank of Newport Beach, California was closed on June 12, 1992 and resolved through a purchase and assumption (insured deposits). Marine National Bank (CA) took over its insured deposits. At failure it held $42.0M in assets and $40.8M in deposits. The FDIC's estimated loss on the failure is $7.4M (17.7% of assets).