Data / Bank failures / 1986 / Center National Bank
Center National Bank, Los Angeles, CA: failed April 11, 1986
Center National Bank in Los Angeles, California, failed on April 11, 1986. Independence Bank of Los Angeles, CA, took over its deposits. It held $47.7 million in assets and $45.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $10.9 million (22.9% of its assets). By assets it was the 81st largest of 204 banks closed or assisted in 1986.
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The FDIC's record
- Closed
- April 11, 1986
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Independence Bank, Los Angeles, CA
- Total assets
- $47,721,000
- Total deposits
- $45,728,000
- Estimated cost to the FDIC
- $10,938,966 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
- FDIC certificate
- 23920
Other bank failures in California, 1984 to 1988
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Adobe Savings Bank (assistance) | Concord | September 30, 1988 | $48.1 million | $43.4 million | $3.8 million | Tracy SAVINGS&LOAN Assn |
| American S&LA (assistance) | Stockton | September 7, 1988 | $30.16 billion | $15.41 billion | $5.37 billion | American Savings Bank FA |
| Homestate S&LA (assistance) | Hayward | August 26, 1988 | $182.1 million | $222.3 million | $45.7 million | Old Stone Bank of Ca A FSB |
| Westlake Thrift & Loan Association | Westlake Village | July 29, 1988 | $55.2 million | $51.2 million | $7.7 million | Independence Bank |
| First Security SB (assistance) | Pleasant Hill | July 21, 1988 | $176.5 million | $133.1 million | $44.6 million | Columbus Savings, A FS&LA |
| Stanford S&LA (assistance) | Palo Alto | June 24, 1988 | $73.5 million | $79.8 million | $17.1 million | Eureka FS&LA |
| Colonial Thrift & Loan Association | Culver City | April 15, 1988 | $26.8 million | $24 million | $4.6 million | Southern Pacific TH&L As |
| Balboa National Bank | National City | January 14, 1988 | $29.3 million | $29.4 million | $6.4 million |
Other failed banks Independence Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Westlake Thrift & Loan Association | Westlake Village | CA | July 29, 1988 | $55.2 million | $51.2 million | $7.7 million | Independence Bank |
All bank failures in 1986 · All bank failures in California · Every failed bank Independence 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.