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Bailout

: Calculated Risk

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

By Anonymous

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

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.
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    Full post as published by Calculated Risk on November 06, 2010 (boomark / email).

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