Bank failure · CA

Garden Grove Community Bank (Garden Grove, CA) — failed June 1, 1984

Garden Grove Community Bank of Garden Grove, California was closed on June 1, 1984 and resolved through a purchase and assumption. Capital Bank (CA) took over its insured deposits. At failure it held $43.9M in assets and $41.1M in deposits. The FDIC's estimated loss on the failure is $5.4M (12.3% of assets).