Bank failure · CA

South Coast Bank (Costa Mesa, CA) — failed April 12, 1985

South Coast Bank of Costa Mesa, California was closed on April 12, 1985 and resolved through a purchase and assumption. Harbor Bank (CA) took over its insured deposits. At failure it held $31.3M in assets and $29.5M in deposits. The FDIC's estimated loss on the failure is $1.2M (3.7% of assets).