Bank failure · CA

Mission Valley Bank, National Assoc (San Clemente, CA) — failed October 18, 1991

Mission Valley Bank, National Assoc of San Clemente, California was closed on October 18, 1991 and resolved through a insured deposit transfer. Mid City Bank, National Ass (CA) took over its insured deposits. At failure it held $42.7M in assets and $40.5M in deposits. The FDIC's estimated loss on the failure is $14.5M (34.0% of assets).