Bank failure · CA
United Community Bank (Westlake Village, CA) — failed December 20, 1989
United Community Bank of Westlake Village, California was closed on December 20, 1989 and resolved through a purchase and assumption. Olympic National Bank (CA) took over its insured deposits. At failure it held $32.3M in assets and $29.3M in deposits. The FDIC's estimated loss on the failure is $1.4M (4.2% of assets).
- Closing date
- December 20, 1989
- FDIC certificate #
- 23419
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Olympic National Bank
- Insurance fund
- BIF
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