Data / Bank failures / 1988 / Balboa National Bank
Balboa National Bank, National City, CA: failed January 14, 1988
Balboa National Bank in National City, California, failed on January 14, 1988. It held $29.3 million in assets and $29.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $6.4 million (21.7% of its assets). By assets it was the 341st largest of 470 banks closed or assisted in 1988.
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The FDIC's record
- Closed
- January 14, 1988
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Total assets
- $29,316,000
- Total deposits
- $29,391,000
- Estimated cost to the FDIC
- $6,369,305 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
- FDIC certificate
- 24333
Other bank failures in California, 1986 to 1990
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Far Western Bank | Tustin | December 14, 1990 | $154.3 million | $150.7 million | $23.9 million | |
| Liberty Federal Savings Bank | Montebello | November 16, 1990 | $53.8 million | $51.7 million | $3.3 million | Commerce NB |
| Rancho Bernardo Fed. Sav. Bank | San Diego | October 26, 1990 | $118.6 million | $113.1 million | $7.7 million | |
| First Pacific Bank | Beverly Hills | August 10, 1990 | $118.8 million | $113.2 million | $43.4 million | Commercial Center Bank |
| Charter Savings Bank | Newport | June 15, 1990 | $313.9 million | $280.4 million | $9.8 million | Pacific Heritage Bank |
| The Merchants Bank of California | Beverly Hills | June 8, 1990 | $62.4 million | $61 million | $3.4 million | Western Bank |
| Time FS & La | San Francisco | June 1, 1990 | $57.9 million | $53.9 million | $3.1 million | Sun SB, FSB |
| The Wilshire Bank, National Assoc | Los Angeles | May 31, 1990 | $24.8 million | $23.9 million | $3.4 million | Mid City Bank, National Ass |
All bank failures in 1988 · All bank failures in California · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.