Bank failure · CA

First California Bank (LA Mesa, CA) — failed July 9, 1993

First California Bank of LA Mesa, California was closed on July 9, 1993 and resolved through a purchase and assumption (insured deposits). Valle De Oro Bank NA (CA) took over its insured deposits. At failure it held $79.4M in assets and $77.0M in deposits. The FDIC's estimated loss on the failure is $14.3M (18.0% of assets).