Data / Bank failures / 1985 / California Heritage Bank
California Heritage Bank, San Diego, CA: failed November 22, 1985
California Heritage Bank in San Diego, California, failed on November 22, 1985. Grossmont Bank of La Mesa, CA, took over its deposits. It held $24.1 million in assets and $22.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $3.2 million (13.4% of its assets). By assets it was the 105th largest of 180 banks closed or assisted in 1985.
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The FDIC's record
- Closed
- November 22, 1985
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Grossmont Bank, La Mesa, CA
- Total assets
- $24,114,000
- Total deposits
- $22,397,000
- Estimated cost to the FDIC
- $3,229,347 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 21691
Other bank failures in California, 1983 to 1987
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Delta Pacific Bank | Pittsburg | October 30, 1987 | $17.7 million | $17 million | $1.3 million | Central Bank |
| First California Savings Bank | San Fernando | October 15, 1987 | $220.6 million | $224 million | ||
| Valley State Bank | Los Angeles | September 28, 1987 | $93.2 million | $92 million | $2.2 million | Capital Bank of Californ |
| Commonwealth Bank | Torrance | September 25, 1987 | $85.1 million | $83.8 million | $16.7 million | Capital Bank of Californ |
| Empire National Bank | Los Angeles | July 30, 1987 | $8.8 million | $9.6 million | $3.1 million | |
| Bank of Los Gatos, N.A. | Los Gatos | July 23, 1987 | $13.1 million | $12.9 million | $1.3 million | Bank of the West |
| Whittier Thrift & Loan | Whittier | June 12, 1987 | $15.2 million | $14.4 million | $3.3 million | Liberty THRIFT&LOAN |
| Tahoe S&LA (assistance) | South Lake Tahoe | April 3, 1987 | $81.2 million | $90.8 million | $41.7 million | First Network Savings Bank |
Other failed banks Grossmont Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The Bank of San Diego | San Diego | CA | October 29, 1993 | $294.3 million | $289.1 million | $58.9 million | Grossmont Bank |
All bank failures in 1985 · All bank failures in California · Every failed bank Grossmont Bank took over · 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.