Data / Bank failures / 1993 / Maritime Bank of California
Maritime Bank of California, Los Angeles, CA: failed August 27, 1993
Maritime Bank of California in Los Angeles, California, failed on August 27, 1993. Western Bank of Los Angeles, CA, took over its deposits. It held $31.8 million in assets and $30.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $5.9 million (18.6% of its assets). By assets it was the 34th largest of 50 banks closed or assisted in 1993.
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The FDIC's record
- Closed
- August 27, 1993
- Type
- Failure
- How it was resolved
- Purchase and assumption of the insured deposits only
- Acquirer
- Western Bank, Los Angeles, CA
- Total assets
- $31,761,000
- Total deposits
- $30,932,000
- Estimated cost to the FDIC
- $5,921,824 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- BIF
- FDIC certificate
- 23135
Other bank failures in California, 1991 to 1995
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Pacific Heritage Bank | Torrance | July 28, 1995 | $147.7 million | $146.1 million | $19.3 million | California Federal Bank , A |
| Continental Savings of America | San Francisco | April 28, 1995 | $359.4 million | $357 million | $22.2 million | California FB, FSB |
| Los Angeles Thrift and Loan Company | Los Angeles | March 31, 1995 | $23.4 million | $22.3 million | $6.1 million | California Federal Bank, A |
| First Trust Bank | Ontario | March 3, 1995 | $227.7 million | $223.6 million | $25.6 million | First State Bank of Califor |
| Guardian Bank | Los Angeles | January 20, 1995 | $316.9 million | $297.9 million | $20.5 million | Imperial Bank |
| Cornerstone Bank FSB | Mission Viejo | December 16, 1994 | $44.3 million | $38.4 million | $4 million | California FB, A FSB |
| Capital Bank | Downey | August 26, 1994 | $76.9 million | $74.4 million | $17.8 million | Landmark Bank |
| Bank of Newport | Newport Beach | August 12, 1994 | $167.8 million | $161.8 million | $28.7 million | Union Bank |
Other failed banks Western Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Olympic National Bank | Los Angeles | CA | April 2, 1993 | $82.4 million | $80.5 million | $25.2 million | Western Bank |
| Columbia National Bank | Santa Monica | CA | January 22, 1993 | $47.6 million | $47.6 million | $17.6 million | Western Bank |
| The Merchants Bank of California | Beverly Hills | CA | June 8, 1990 | $62.4 million | $61 million | $3.4 million | Western Bank |
| Community Bank | Hartford | SD | June 17, 1983 | $32 million | $28.3 million | $5.9 million | Western Bank |
All bank failures in 1993 · All bank failures in California · Every failed bank Western 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.