The Graveyard › Banks › 1994

CommerceBank

Newport Beach, CA · failed July 29, 1994 · FDIC certificate 22796

CommerceBank of Newport Beach, CA failed on July 29, 1994. It opened on February 1, 1979, 15 years before. At its last report before that it held $142.3 million in assets and $138.3 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 1991, it held $330.4 million. The FDIC estimates that the Bank Insurance Fund lost $14.1 million on it.

1984-031994-06

Assets at the end$142.3 millionlast report before July 29, 1994

Deposits at the end$138.3 million

Estimated loss to the fund$14.1 millionBIF

Largest in the quarterly reports$330.4 millionJune 30, 1991

Equity to assets0.7%June 30, 1994

Loans not being repaid15.9%noncurrent, June 30, 1994

Return on assets-5.55%a year's rate, June 30, 1994

Staff85full time, June 30, 1994

On the FDIC's list: COMMERCE BANK.

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Also ended in 1994

The Bank of Hartford · Hartford, CT · $321.5 million in assets
Ludlow Savings Bank · Ludlow, MA · $222.7 million in assets
Bank of Newport · Newport Beach, CA · $167.8 million in assets
Mechanics National Bank · Paramount, CA · $148.7 million in assets
Pioneer Bank · Fullerton, CA · $133.3 million in assets
Bank of San Pedro · Los Angeles, CA · $132.6 million in assets

History, not advice.

Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.