Bank failure · CA

Temecula Valley Bank (Temecula, CA) — failed July 17, 2009

Temecula Valley Bank of Temecula, California was closed on July 17, 2009 and resolved through a purchase and assumption. First-Citizens Bank and Trust Company (NC) took over its insured deposits. At failure it held $1.4B in assets and $1.3B in deposits. The FDIC's estimated loss on the failure is $227.4M (16.3% of assets).