Data / Bank failures / 2010 / Innovative Bank
Innovative Bank, Oakland, CA: failed April 16, 2010
Innovative Bank in Oakland, California, failed on April 16, 2010. Center Bank of Los Angeles, CA, took over its deposits. It held $266.8 million in assets and $223.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $22.7 million (8.5% of its assets). By assets it was the 73rd largest of 157 banks closed or assisted in 2010.
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The FDIC's record
- Closed
- April 16, 2010
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Center Bank, Los Angeles, CA
- Total assets
- $266,816,000
- Total deposits
- $223,164,000
- Estimated cost to the FDIC
- $22,715,417 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 23876
Other bank failures in California, 2008 to 2012
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Palm Desert National Bank | Palm Desert | April 27, 2012 | $129.3 million | $129 million | $26.3 million | Pacific Premier Bank |
| Citizens Bank of Northern California | Nevada City | September 23, 2011 | $288.8 million | $253.1 million | $40.9 million | Tri Counties Bank |
| Charter Oak Bank | Napa | February 18, 2011 | $120.8 million | $105.3 million | $20.1 million | Bank of Marin |
| San Luis Trust Bank, FSB | San Luis Obispo | February 18, 2011 | $332.6 million | $272.2 million | $72.9 million | First California Bank |
| Canyon National Bank | Palm Springs | February 11, 2011 | $210.9 million | $205.3 million | $15.6 million | Pacific Premier Bank |
| Western Commercial Bank | Woodland Hills | November 5, 2010 | $98.6 million | $101.1 million | $16.9 million | First California Bank |
| First Vietnamese American Bank | Westminster | November 5, 2010 | $48 million | $47 million | $14.3 million | Grandpoint Bank |
| Butte Community Bank | Chico | August 20, 2010 | $498.8 million | $471.3 million | $1.7 million | Rabobank, National Association |
All bank failures in 2010 · 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.