Bank failure · CA
Innovative Bank (Oakland, CA) — failed April 16, 2010
Innovative Bank of Oakland, California was closed on April 16, 2010 and resolved through a purchase and assumption. Center Bank (CA) took over its insured deposits. At failure it held $266.8M in assets and $223.2M in deposits. The FDIC's estimated loss on the failure is $22.7M (8.5% of assets).
- Closing date
- April 16, 2010
- FDIC certificate #
- 23876
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Center Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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