Bank failure · CA
Independent National Bank (Covina, CA) — failed October 9, 1986
Independent National Bank of Covina, California was closed on October 9, 1986 and resolved through a insured deposit transfer. Chino Valley Bank (CA) took over its insured deposits. At failure it held $28.3M in assets and $27.7M in deposits. The FDIC's estimated loss on the failure is $1.4M (4.9% of assets).
- Closing date
- October 9, 1986
- FDIC certificate #
- 24727
- Resolution
- Insured deposit transfer (failure)
- Acquiring institution
- Chino Valley Bank
- Insurance fund
- FDIC
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