Failed Bank List

Closed Friday, October 30, 2009 · Los Angeles, Los Angeles County, California

California National Bank

By total assets California National Bank is the 25th-largest of the 3,375 bank failures since 1934 for which the FDIC records a size, counted in dollars of the day. Regulators closed nine banks that day. It was the largest of nine banks handed to U.S. Bank N.A. together on the day it closed.

On the books, 2001 to 2009

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$2B$4B$6B$8B20022003200420052006200720082009Closed
Total assets were at their highest of these 32 quarters in the final report, for the third quarter of 2009. Equity capital went from 9.0% of assets in the fourth quarter of 2001 to 3.9% at the last report. The deepest annual loss, $299 million, was booked in 2008.
Net income in each reporting year before closing, with equity capital as a share of assets at year endNet income per yearEquity to assets at year end$320M−$320M2001: $23.0 million20019.0%2002: $57.7 million200211%2003: $60.1 million200313%2004: $65.0 million200412%2005: $80.5 million200512%2006: $76.8 million200612%2007: $58.5 million200711%2008: −$299 million20085.0%2009: −$49.0 million2009*3.9%
* 2009: January to September only, the last report before closing.

Size against the other 2009 failures

Total assets of the 140 banks that failed in 2009, log scale$10M$100M$1B$10B$100B
Total assets of each 2009 failure, log scale; California National Bank in red.

By assets it ranked sixth of the 140 failures in 2009. Within California it ranks tenth by size of the 239 failures recorded since 1934. Across the failures of 2009, the median estimated loss came to 27% of assets. Ranked by estimated loss, it is 212th of 2,944 failures since 1934. In the size ranking of that year, just above it was United Commercial Bank of San Francisco, California ($10.9 billion, loss 5.3% of assets); just below, Corus Bank, N.A. of Chicago, Illinois ($7.0 billion, no estimated loss). Every 2009 failure in the explorer.

Closed together

With California National Bank, the group reported $19.4 billion in assets, and the FDIC's estimated loss on all nine is $335 million. They have no separate pages here.

The other banks in the same transaction
BankLocationTotal assetsEst. lossFounded
Park National BankChicago, IL$4.7 billion$2.8 million1883
San Diego National BankSan Diego, CA$3.6 billion$36.4 million1981
Pacific National BankSan Francisco, CA$2.3 billion$58.6 million1887
North Houston BankHouston, TX$325 million$12.0 million1963
Madisonville State BankMadisonville, TX$256 millionnone1993
Bank USA, N.A.Phoenix, AZ$213 million$11.7 million1984
Citizens National BankTeague, TX$118 million$5.8 million1984
Community Bank of LemontLemont, IL$81.8 million$25.9 million2001

Failures in California

In 2009 regulators closed 17 banks in California; this was the 11th. The previous failure there was San Joaquin Bank of Bakersfield, on October 16, 2009. The next was United Commercial Bank of San Francisco, on November 6, 2009. Los Angeles County has 87 failed banks on FDIC record since 1934. Closest in time: Alliance Bank (2009), First Bank of Beverly Hills (2009), Mirae Bank (2009), First Federal Bank of California, F.S.B. (2009), First Regional Bank (2010).

Bank failures in California per year, 1980 to 2026081624321982: 21983: 61984: 71985: 111986: 171987: 121988: 31989: 281990: 211991: 211992: 181993: 241994: 101995: 51996: 21999: 12000: 12003: 12008: 52009: 172010: 122011: 42012: 12014: 12023: 22026: 119801990200020102020
Per year since 1980, 2009 in red. Every California failure

The acquiring bank

U.S. Bank N.A. of Minneapolis, Minnesota took over ten failed banks between 2000 and 2026. Apart from the banks closed together with this one, the other:

All 10 banks it took over.

FDIC certificate 34659 · loss estimate as of July 31, 2026 · How to read this page