MetroPacific Bank
June 26, 2009 – 4:43 pmOn Friday, June 26, MetroPacific Bank, Irvine, CA, was closed and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.
The California Department of Financial Institutions (DFI) announced today that regulators have closed MetroPacific Bank, citing inadequate capital.
As of June 15, 2009, MetroPacific Bank, located in Irvine, had total assets of approximately $77.9 million and total deposits of approximately $73 million. The DFI has been closely monitoring the bank because of its inadequate capital level. The DFI had ordered it to increase its capital reserves to a safe and sound level but efforts by the bank to do so were unsuccessful.
Visit the official FDIC web page for more information.
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