Bank failure · CA
Cornerstone Bank FSB (Mission Viejo, CA) — failed December 16, 1994
Cornerstone Bank FSB of Mission Viejo, California was closed on December 16, 1994 and resolved through a purchase and assumption. California Fb, a FSB (CA) took over its insured deposits. At failure it held $44.3M in assets and $38.4M in deposits. The FDIC's estimated loss on the failure is $4.0M (9.1% of assets).
- Closing date
- December 16, 1994
- FDIC certificate #
- 32374
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- California Fb, a FSB
- Insurance fund
- RTC
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