Bank failure · CA
Commonwealth Bank (Torrance, CA) — failed September 25, 1987
Commonwealth Bank of Torrance, California was closed on September 25, 1987 and resolved through a purchase and assumption. Capital Bank of Californ (CA) took over its insured deposits. At failure it held $85.1M in assets and $83.8M in deposits. The FDIC's estimated loss on the failure is $16.7M (19.6% of assets).
- Closing date
- September 25, 1987
- FDIC certificate #
- 22026
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Capital Bank of Californ
- Insurance fund
- FDIC
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