San Luis Trust BankThe Office of Thrift Supervision shuttered San Luis Trust Bank of San Luis Obispo, Calif. As receiver, the FDIC sold the failed institution's roughly $333 million in assets and $272 million in deposits to First California Bank of Westlake Village, Calif. First California is the main subsidiary of First California Financial Group (FCAL). The FDIC agreed to share in losses on $241.7 million of the assets acquired by First California, and estimated the failure would cost the deposit insurance fund $96.1 million. San Luis Trust Bank was negatively capitalized as of Dec. 31, with a nonperforming assets ratio of 24.52%. The institution wasn't included in TheStreet's preliminary Bank Watch List of undercapitalized institutions because its fourth-quarter data wasn't available on February 1, when the Watch List data was provided by SNL Financial. The failed bank's office was scheduled to reopen Tuesday as a branch of First California Bank.
Thorough Bank Failure CoverageAll bank and thrift closures since the beginning of 2008 are detailed in TheStreet's interactive bank failure map: The bank failure map is color-coded, with the states having the greatest number of failures highlighted in dark gray, and states with no failures in light green. By moving your mouse over a state you can see its combined 2008-2011 totals. Then click the state to open a detailed map pinpointing the locations and providing additional information for each bank failure.
Philip van Doorn.