Pierce Commercial Bank's office was to reopen Monday as a branch of Heritage Bank.
First Vietnamese American Bank
California regulators also closed First Vietnamese American Bank of Westminster, Calif. The FDIC as receiver arranged for Grandpoint Bank of Los Angeles to assume the failed bank's $48 million in total assets and $47 million in deposits. The FDIC estimated the bank failure would cost the deposit insurance fund $96 million.
First Vietnamese American Bank's sole branch was scheduled to reopen Saturday as a branch of Grandpoint Bank.
Thorough Bank Failure Coverage
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