Bank failure · CA

First Vietnamese American Bank (Westminster, CA) — failed November 5, 2010

First Vietnamese American Bank of Westminster, California was closed on November 5, 2010 and resolved through a purchase and assumption. Grandpoint Bank (CA) took over its insured deposits. At failure it held $48.0M in assets and $47.0M in deposits. The FDIC's estimated loss on the failure is $14.3M (29.7% of assets).