Bank failure · CA

First City Bank (Glendale, CA) — failed December 20, 1985

First City Bank of Glendale, California was closed on December 20, 1985 and resolved through a purchase and assumption. Sterling Bank (CA) took over its insured deposits. At failure it held $35.8M in assets and $28.8M in deposits. The FDIC's estimated loss on the failure is $5.9M (16.5% of assets).