The Graveyard › Banks › 2003
Southern Pacific Bank
Torrance, CA · failed February 7, 2003 · FDIC certificate 27094
Southern Pacific Bank of Torrance, CA failed on February 7, 2003. It opened on March 1, 1982, 20 years before. At its last report before that it held $904.3 million in assets and $864.2 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 2000, it held $2.1 billion. The FDIC estimates that the Bank Insurance Fund lost $49.2 million on it.
1987-122002-12
Assets at the end$904.3 millionlast report before February 7, 2003
Deposits at the end$864.2 million
Estimated loss to the fund$49.2 millionBIF
Largest in the quarterly reports$2.1 billionJune 30, 2000
Equity to assets3.9%December 31, 2002
Loans not being repaid10.9%noncurrent, December 31, 2002
Return on assets-3.86%a year's rate, December 31, 2002
Staff164full time, December 31, 2002
Also ended in 2003
- The First National Bank of Blanchardville · Blanchardville, WI · $34.5 million in assets
- Pulaski Savings Bank · Philadelphia, PA · $8.5 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.