Bank failure · CA

First Pacific Bank (Beverly Hills, CA) — failed August 10, 1990

First Pacific Bank of Beverly Hills, California was closed on August 10, 1990 and resolved through a insured deposit transfer. Commercial Center Bank (CA) took over its insured deposits. At failure it held $118.8M in assets and $113.2M in deposits. The FDIC's estimated loss on the failure is $43.4M (36.6% of assets).