Bank failure · CA

First American Capital Bank, N.A (Laguna Beach, CA) — failed March 4, 1993

First American Capital Bank, N.A of Laguna Beach, California was closed on March 4, 1993 and resolved through a purchase and assumption (insured deposits). Orange National Bank (CA) took over its insured deposits. At failure it held $28.5M in assets and $26.3M in deposits. The FDIC's estimated loss on the failure is $7.4M (26.0% of assets).