Bank failure · CA
Los Padres Bank (Solvang, CA) — failed August 20, 2010
Los Padres Bank of Solvang, California was closed on August 20, 2010 and resolved through a purchase and assumption. Pacific Western Bank (CA) took over its insured deposits. At failure it held $866.5M in assets and $770.9M in deposits. The FDIC's estimated loss on the failure is $3.4M (0.4% of assets).
- Closing date
- August 20, 2010
- FDIC certificate #
- 32165
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Pacific Western Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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