First Vietnamese American BankCalifornia 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 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 2008-2010 totals. Clicking on a state opens a detailed map pinpointing the locations and providing additional information for each bank failure.
Philip van Doorn. >To follow the writer on Twitter, go to http://twitter.com/PhilipvanDoorn. >To submit a news tip, send an email to: firstname.lastname@example.org.