Bank failure · CA

Wilshire Center Bank, (Los Angeles, CA) — failed May 6, 1993

Wilshire Center Bank, of Los Angeles, California was closed on May 6, 1993 and resolved through a purchase and assumption (insured deposits). California Center Bank (CA) took over its insured deposits. At failure it held $9.7M in assets and $9.4M in deposits. The FDIC's estimated loss on the failure is $5.9M (61.2% of assets).