Bank failure · CA

Maritime Bank of California (Los Angeles, CA) — failed August 27, 1993

Maritime Bank of California of Los Angeles, California was closed on August 27, 1993 and resolved through a purchase and assumption (insured deposits). Western Bank (CA) took over its insured deposits. At failure it held $31.8M in assets and $30.9M in deposits. The FDIC's estimated loss on the failure is $5.9M (18.6% of assets).