Bank failure · CA
The Merchants Bank of California (Beverly Hills, CA) — failed June 8, 1990
The Merchants Bank of California of Beverly Hills, California was closed on June 8, 1990 and resolved through a purchase and assumption. Western Bank (CA) took over its insured deposits. At failure it held $62.4M in assets and $61.0M in deposits. The FDIC's estimated loss on the failure is $3.4M (5.4% of assets).
- Closing date
- June 8, 1990
- FDIC certificate #
- 23795
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Western Bank
- Insurance fund
- BIF
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