Bank failure · CA

Mirae Bank (Los Angeles, CA) — failed June 26, 2009

Mirae Bank of Los Angeles, California was closed on June 26, 2009 and resolved through a purchase and assumption. Wilshire State Bank (CA) took over its insured deposits. At failure it held $480.6M in assets and $410.0M in deposits. The FDIC's estimated loss on the failure is $45.3M (9.4% of assets).