Data / Bank failures / 1984 / West Olympia Bank
West Olympia Bank, Los Angeles, CA: failed February 10, 1984
West Olympia Bank in Los Angeles, California, failed on February 10, 1984. Wilshire State Bank of Los Angeles, CA, took over its deposits. It held $20.4 million in assets and $19.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $3 million (14.6% of its assets). By assets it was the 66th largest of 106 banks closed or assisted in 1984.
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The FDIC's record
- Closed
- February 10, 1984
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Wilshire State Bank, Los Angeles, CA
- Total assets
- $20,411,000
- Total deposits
- $19,916,000
- Estimated cost to the FDIC
- $2,971,587 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 19282
Other bank failures in California, 1982 to 1986
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| First National Bank | Willows | November 20, 1986 | $63 million | $59.2 million | $2.5 million | First Interstate CNTL Ba |
| The Bank of Northern California | San Jose | November 14, 1986 | $16.1 million | $15.8 million | $133,250 | Pacific Valley Bank |
| Unified Savings Bank | Northridge | October 10, 1986 | $102.8 million | $104.8 million | ||
| Independent National Bank | Covina | October 9, 1986 | $28.3 million | $27.7 million | $1.4 million | Chino Valley Bank |
| Frontier National Bank | Vista | October 2, 1986 | $9.9 million | $10.6 million | $1.7 million | Rancho Vista National Ba |
| Cal America S&LA (assistance) | Walnut Creek | September 19, 1986 | $413 million | $367.8 million | $166.7 million | Columbus Savings, A FS&LA |
| Ramona S&LA | Fillmore | September 12, 1986 | $108.1 million | $96 million | $59.5 million | Midwest FS&LA of Minneapoli |
| Sun S&LA (assistance) | San Diego | July 18, 1986 | $370.9 million | $334.4 million | $39.8 million | Flagship FSB |
Other failed banks Wilshire State Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Mirae Bank | Los Angeles | CA | June 26, 2009 | $480.6 million | $410 million | $45.3 million | Wilshire State Bank |
All bank failures in 1984 · 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.