Bank failure · CA

Palm Desert National Bank (Palm Desert, CA) — failed April 27, 2012

Palm Desert National Bank of Palm Desert, California was closed on April 27, 2012 and resolved through a purchase and assumption. Pacific Premier Bank (CA) took over its insured deposits. At failure it held $129.3M in assets and $129.0M in deposits. The FDIC's estimated loss on the failure is $26.3M (20.4% of assets).