1st Centennial Bank of Redlands, CA, was closed by the California Department of Financial Institutions on Friday, Jan. 23. First California Bank of Westlake, Village, CA will assume the insured deposits of the failed bank. About $12.8 million of the deposits exceeded insurance limits. First bank to fail in California since Downey Savings and Loan, F.A., Newport Beach, closed on November 21, 2008 (See Failed Institutions of 2008) The cost to the FDIC’s Deposit Insurance Fund is estimated to be $227 million.”]
Source: https://www.cuinfosecurity.com/california-bank-2009s-third-failure-a-1176