Bank failure · CA

First Western Bank, N.A. (San Diego, CA) — failed April 15, 1993

First Western Bank, N.A. of San Diego, California was closed on April 15, 1993 and resolved through a purchase and assumption (insured deposits). Peninsula Bank of San Di (CA) took over its insured deposits. At failure it held $16.2M in assets and $15.3M in deposits. The FDIC's estimated loss on the failure is $3.1M (19.0% of assets).