Bank failure · CA
Columbia National Bank (Santa Monica, CA) — failed January 22, 1993
Columbia National Bank of Santa Monica, California was closed on January 22, 1993 and resolved through a purchase and assumption (insured deposits). Western Bank (CA) took over its insured deposits. At failure it held $47.6M in assets and $47.6M in deposits. The FDIC's estimated loss on the failure is $17.6M (37.0% of assets).
- Closing date
- January 22, 1993
- FDIC certificate #
- 24320
- Resolution
- Purchase and assumption (insured deposits) (failure)
- Acquiring institution
- Western Bank
- Insurance fund
- BIF
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