Bank failure · CA

Monument National Bank (Ridgecrest, CA) — failed June 2, 2000

Monument National Bank of Ridgecrest, California was closed on June 2, 2000 and resolved through a purchase and assumption. Israel Discount Bank of New (NY) took over its insured deposits. At failure it held $7.9M in assets and $7.7M in deposits. The FDIC's estimated loss on the failure is $617K (7.8% of assets).