Bank failure · CA
Security Pacific Bank (San Diego, CA) — failed November 7, 2008
Security Pacific Bank of San Diego, California was closed on November 7, 2008 and resolved through a purchase and assumption. Pacific Western Bank (CA) took over its insured deposits. At failure it held $528.0M in assets and $456.5M in deposits. The FDIC's estimated loss on the failure is $148.3M (28.1% of assets).
- Closing date
- November 7, 2008
- FDIC certificate #
- 23595
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Pacific Western Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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