Bank failure · CA

First Heritage Bank N.A. (Newport Beach, CA) — failed July 25, 2008

First Heritage Bank N.A. of Newport Beach, California was closed on July 25, 2008 and resolved through a purchase and assumption. Mutual of Omaha Bank (NE) took over its insured deposits. At failure it held $255.4M in assets and $234.8M in deposits. The FDIC's estimated loss on the failure is $92.1M (36.1% of assets).