Failed Bank List

Closed Friday, November 5, 2010 · Woodland Hills, Los Angeles County, California

Western Commercial Bank

Western Commercial Bank failed four years after it opened in 2006. In the three years to the third quarter of 2008, its assets grew 802%. Equity capital was below zero at its last report.

On the books, 2006 to 2010

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$40M$80M$120M$160M2007200820092010Closed
Total assets peaked at $123 million and were 20% lower at the final report. Equity capital had covered 88% of assets in the first quarter of 2006. It lost money in every one of the five reporting years on file before it closed. The deepest annual loss, $12.7 million, was booked in 2010 in only part of the year.
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−$16M2006: −$3.2 million200627%2007: −$587 thousand200711%2008: −$870 thousand20088.2%2009: −$3.3 million20098.5%2010: −$12.7 million2010*neg.
* 2010: January to September only, the last report before closing.

Size against the other 2010 failures

Total assets of the 157 banks that failed in 2010, log scale$1M$10M$100M$1B$10B$100B
Total assets of each 2010 failure, log scale; Western Commercial Bank in red.

By assets it ranked 122nd of the 157 failures in 2010. Within California it ranks 119th by size of the 239 failures recorded since 1934. Across the failures of 2010, the median estimated loss came to 21% of assets. In the size ranking of that year, just above it was Community Security Bank of New Prague, Minnesota ($101 million, loss 18% of assets); just below, Mainstreet Savings Bank, FSB of Hastings, Michigan ($96.6 million, loss 13% of assets). Every 2010 failure in the explorer.

Three other banks closed that day; the largest was K Bank of Randallstown, Maryland, at $538 million.

Failures in California

In 2010 regulators closed 12 banks in California; this was the 11th. The previous failure there was Pacific State Bank of Stockton, on August 20, 2010. The next was Canyon National Bank of Palm Springs, on February 11, 2011. Los Angeles County has 87 failed banks on FDIC record since 1934. Closest in time: First Bank of Beverly Hills (2009), Mirae Bank (2009), California National 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, 2010 in red. Every California failure

The acquiring bank

First California Bank of Westlake Village, California took over three failed banks between 2000 and 2026. The others:

  • 1st Centennial BankRedlands, CA · January 23, 2009
  • San Luis Trust Bank, FSBSan Luis Obispo, CA · February 18, 2011

FDIC certificate 58087 · loss estimate as of July 31, 2026 · How to read this page