Bank failure · CA
First Sierra Bank (Bishop, CA) — failed January 23, 1987
First Sierra Bank of Bishop, California was closed on January 23, 1987 and resolved through a insured deposit transfer. Security Pacific Nb (CA) took over its insured deposits. At failure it held $23.2M in assets and $23.0M in deposits. The FDIC's estimated loss on the failure is $4.1M (17.6% of assets).
- Closing date
- January 23, 1987
- FDIC certificate #
- 23282
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- Security Pacific Nb
- Insurance fund
- FDIC
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