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Friday, November 05, 2010

Bank Failure #143: First Vietnamese American Bank, Westminster, California

by Calculated Risk on 11/05/2010 09:22:00 PM

There were 140 failures in 2009. This makes 143 and counting in 2010 ...

Bair's valkyries ride
someday this war's gonna end
today is that day

by Soylent Green is People

From the FDIC: Grandpoint Bank, Los Angeles, California, Assumes All of the Deposits of First Vietnamese American Bank, Westminster, California
As of September 30, 2010, First Vietnamese American Bank had approximately $48.0 million in total assets and $47.0 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $9.6 million. ... First Vietnamese American Bank is the 143rd FDIC-insured institution to fail in the nation this year, and the twelfth in California.