Bank failure · CA

Palos Verdes National Bank (Rolling Hills Est, CA) — failed May 21, 1993

Palos Verdes National Bank of Rolling Hills Est, California was closed on May 21, 1993 and resolved through a purchase and assumption (insured deposits). Peninsula Bank National (CA) took over its insured deposits. At failure it held $45.6M in assets and $47.8M in deposits. The FDIC's estimated loss on the failure is $10.3M (22.6% of assets).