Bank failure · CA

Pacific Heritage Bank (Torrance, CA) — failed July 28, 1995

Pacific Heritage Bank of Torrance, California was closed on July 28, 1995 and resolved through a purchase and assumption (insured deposits). California Federal Bank , a (CA) took over its insured deposits. At failure it held $147.7M in assets and $146.1M in deposits. The FDIC's estimated loss on the failure is $19.3M (13.1% of assets).