Bank failure · CA
The Bank of San Diego (San Diego, CA) — failed October 29, 1993
The Bank of San Diego of San Diego, California was closed on October 29, 1993 and resolved through a purchase and assumption (insured deposits). Grossmont Bank (CA) took over its insured deposits. At failure it held $294.3M in assets and $289.1M in deposits. The FDIC's estimated loss on the failure is $58.9M (20.0% of assets).
- Closing date
- October 29, 1993
- FDIC certificate #
- 22815
- Resolution
- Purchase and assumption (insured deposits) (failure)
- Acquiring institution
- Grossmont Bank
- Insurance fund
- BIF
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