Bank failure · CA

Olympic National Bank (Los Angeles, CA) — failed April 2, 1993

Olympic National Bank of Los Angeles, California was closed on April 2, 1993 and resolved through a purchase and assumption (insured deposits). Western Bank (CA) took over its insured deposits. At failure it held $82.4M in assets and $80.5M in deposits. The FDIC's estimated loss on the failure is $25.2M (30.6% of assets).