Bank failure · CA
New City Bank (Orange, CA) — failed March 20, 1987
New City Bank of Orange, California was closed on March 20, 1987 and resolved through a purchase and assumption. Colonial Bank National a (CA) took over its insured deposits. At failure it held $26.0M in assets and $25.8M in deposits. The FDIC's estimated loss on the failure is $5.6M (21.3% of assets).
- Closing date
- March 20, 1987
- FDIC certificate #
- 24789
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Colonial Bank National a
- Insurance fund
- FDIC
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