February 6, 2009 – 7:07 pm
The FDIC shut down three banks after the market’s final bell today. Among them was Alliance Bank, Culver City, CA, the FDIC’s ninth victim in 2009.
The California Department of Financial Institutions shut Culver City-based Alliance Bank, with assets of $1.14 billion and $951 million in deposits.
The FDIC was named the receiver of of the bank. The assuming institution is California Bank & Trust, San Diego, CA.
On Monday, February 9, 2009, the former Alliance Bank locations will reopen as branches of California Bank & Trust.
For more information go to the official FDIC web page.
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