Cal National Bank
California National Bank was a consumer and business bank in the Southern California area.
Overview
Cal National Bank originally began in 1996 when FBOP Corporation acquired Torrance Bank. Two years later, FBOP acquired five branches of Topa Savings and Topa Thrift, establishing California National Bank.
As Cal National started growing, they acquired People’s Bank of California in 2001 and Fidelity Federal Bank in 2002.
Since 2007, Cal National has grown to 68 branches throughout Southern California.[clarification needed]
Bank failure
On Friday, October 30, 2009, California National Bank, Los Angeles, CA was closed by the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. All deposits and branches were transferred to U.S. Bank.[1]
References
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