TITLE

IndyMac Buyers Pick Up Another Failed Bank

AUTHOR(S)
Adler, Joe
PUB. DATE
March 2010
SOURCE
Mergers & Acquisitions Report;3/1/2010, Vol. 23 Issue 9, p17
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports on four bank failures which brought the 2010 total to 20 and cost the American government an additional 1 billion U.S. dollars. The Federal Deposit Insurance Corp. has sold the operations of La Jolla Bank in La Jolla, California to Pasadena-based OneWest Bank in the second deal for the buyers of the failed IndyMac Bank. Other banks shuttered by the regulators include the George Washington Savings Bank, La Coste National Bank and Marco Community Bank.
ACCESSION #
48408625

 

Related Articles

  • Executive Says La Jolla Bank Struggling in 'Extraordinary Times'. Allen, Mike // San Diego Business Journal;8/31/2009, Vol. 30 Issue 35, p10 

    The article focuses on the financial condition of the La Jolla Bank (LJB) due to recession and reports on the dismissal of the auditor of Imperial Capital Bank. LJB held 262 million dollars in nonaccrual loans at the end of the second quarter of 2009. However, LJB's privately held savings are...

  • OTS Takes Action Against La Jolla Bank. Davidson, Kate // American Banker;2/22/2010, Vol. 175 Issue 27, p12 

    This article reports that the U.S. Office of Thrift Supervision is taking corrective action against the La Jolla Bank FSB of California and has ordered it to merge with another institution or sell off nearly half of its assets and liabilities in order to increase its capitalization.

  • Union State Bank buys 2 branches from La Jolla. Khasru, B. Z. // Westchester County Business Journal;06/12/2000, Vol. 39 Issue 24, p2 

    Reports on the absence of plans from Union State Bank to expand beyond its traditional market in Westchester and Rockland counties in New York despite an agreement to purchase two banks from La Jolla Bank in Stamford, Connecticut. Reason behind the acquisition in Connecticut; Aim of increasing...

  • Low-Profile Bank Seeing Its Total Assets Soar. Allen, Mike // San Diego Business Journal;4/17/2006, Vol. 27 Issue 16, p15 

    The article reports on the increase in total assets of La Jolla Bank in the financial services industry in San Diego, California. Chief executive officer Rick Hall said the increase has all been organic growth. The bank's main line is lending on income property or apartments following the trend...

  • La Jolla Bank's Demise Came Swiftly; Reasons for Failure Haven't. Allen, Mike // San Diego Business Journal;3/1/2010, Vol. 31 Issue 9, p8 

    The article reports on the reason behind the failure of La Jolla Bank in La Jolla, San Diego, California. It reveals that the bank, which was known as the third largest bank in the region with nearly 4 billion dollars in assets, has failed on February 19, 2010 as well as its 10 offices in the...

  • Union State isn't looking to expand beyond Stamford. Khasru, B.Z. // Fairfield County Business Journal;06/12/2000, Vol. 39 Issue 24, p7 

    Focuses on Orangeburg, New York-based Union State Bank's acquisition of La Jolla Bank branches in Stamford, Connecticut and New York City. Absence of plans to expand beyond its traditional market in New York's Westchester and Rockland counties; Assets of Union State Bank; Geographic distance of...

  • La Jolla Bank Struggling to Comply With Cease And Desist Order. Allen, Mike // San Diego Business Journal;11/16/2009, Vol. 30 Issue 46, p3 

    The article reports on the corrective actions being taken by La Jolla Bank after receiving a cease and desist order from its primary regulator in San Diego County, California. It states that La Jolla Bank announced 401.6 million dollars in problem loans, with nonperforming assets totaling 446...

  • Union State Bank acquires new branches; dividends up 19.4%.  // Hudson Valley Business Journal;06/05/2000, Vol. 11 Issue 9, p9 

    Focuses on Union State Bank's acquisition of several branches of La Jolla Bank. Total deposits of the branches; Terms under the agreement; Pending bank regulatory approvals for the merger pact.

  • Having Shed Construction Loans, Pacific Trust Bank Looks Ahead. Allen, Mike // San Diego Business Journal;3/22/2010, Vol. 31 Issue 12, p9 

    The article reports on the impact of construction loans to several banks in the U.S. including Pacific Trust Bank, La Jolla Bank, and First PacTrust Bancorp Inc. It notes that Pacific Trust charged off 22.5 million dollars in bad loans in the fourth quarter of 2009 from defaulted construction...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics