Data / Bank failures / 2009 / Mirae Bank
Mirae Bank, Los Angeles, CA: failed June 26, 2009
Mirae Bank in Los Angeles, California, failed on June 26, 2009. Wilshire State Bank of Los Angeles, CA, took over its deposits. It held $480.6 million in assets and $410 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $45.3 million (9.4% of its assets). By assets it was the 57th largest of 148 banks closed or assisted in 2009.
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The FDIC's record
- Closed
- June 26, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Wilshire State Bank, Los Angeles, CA
- Total assets
- $480,619,000
- Total deposits
- $409,951,000
- Estimated cost to the FDIC
- $45,309,281 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 57332
Other bank failures in California, 2007 to 2011
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| 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 |
| Los Padres Bank | Solvang | August 20, 2010 | $866.5 million | $770.9 million | $3.4 million | Pacific Western Bank |
Other failed banks Wilshire State Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| West Olympia Bank | Los Angeles | CA | February 10, 1984 | $20.4 million | $19.9 million | $3 million | Wilshire State Bank |
All bank failures in 2009 · All bank failures in California · Every failed bank Wilshire State 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.