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.