Skip Header
U.S. flag

An official website of the United States government

Failed Bank Information

Information for 1st Centennial Bank, Redlands, CA

  1. Introduction
  2. Press Release
  3. Is My Account Fully Insured?
  4. Acquiring Financial Institution
  5. Question and Answer Guide
  6. Banking Services
  7. Loan Customers
  8. Possible Claims Against the Failed Institution
  9. Priority of Claims
  10. Dividend Information
  11. Brokered Deposits
  12. Purchase and Assumption Agreement - PDF
  13. Balance Sheet Summary

Please be advised you will not receive any email notification to claim/unlock/unsuspend your account or to provide any private information. Please be aware of any Phishing Scams to obtain information from you.

I. Introduction

On January 23, 2009, 1st Centennial Bank, Redlands, CA was closed by the California Department of Financial Institutions (DFI) and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.

The FDIC has assembled useful information regarding your relationship with this institution. Besides a checking account, you may have Certificates of Deposit, a car loan, a business checking account, a commercial loan, a Social Security direct deposit, and other relationships with the institution. The FDIC has compiled the following information which should answer many of your questions.


Back to top

II. Press Release

The FDIC has issued a press release (PR-007-2009) about the institution's closure. If you represent a media outlet and would like information about the closure, please contact LaJuan Williams-Young at 202-898-3876.


Back to top

III. Is My Account Fully Insured?

This link will allow you to verify the insurance status of each of your accounts. This link will be available for use no later than the first business day after bank failure.

Simply enter your account number in the search screen. If you receive the message that "your account is fully insured" a link will appear that provides you with additional information. If you receive the message that you should contact the FDIC, then a link will appear that provides you contact information.

Is My Account Fully Insured?


Back to top

IV. Acquiring Financial Institution

All insured non-brokered deposit accounts have been transferred to First California Bank, Westlake Village, CA ("assuming institution") and will be available immediately. On Monday, January 26, 2009, the former 1st Centennial Bank locations will reopen as branches of First California Bank.

Principal and interest on insured accounts, through January 23, 2009, are fully insured by the FDIC, up to the insurance limit of $250,000. You will receive full payment for your insured account. Certain entitlements and different types of accounts can be insured for more than the $250,000 limit. IRA funds are insured separately from other types of accounts, up to a $250,000 limit.

All interest bearing accounts that exceed the $250,000 insurance limit, and/or all interest bearing accounts that appear to be related and exceed this limit, are reviewed by the FDIC to determine their ownership and insurance coverage. If you think you might have uninsured deposits you should call the FDIC Call Center to arrange for a telephone interview with  a Claims Agent at (888) 206-4662. The Claim Agent may direct you to download and submit a particular form that will assist in expediting the processing of your claim.

List of Affidavits, Declarations, and Forms available for download

If it is determined that you have uninsured funds, the FDIC will generate and mail to you a Receiver Certificate. This certificate entitles you to share proportionately in any funds recovered through the disposal of the assets of 1st Centennial Bank. This means that you may eventually recover some of your uninsured funds.

To find out more about FDIC Deposit Insurance:

Checks that were drawn on 1st Centennial Bank will be honored up to your available balance or the insured amount. You may withdraw funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with your new bank. A hold may be in place on deposit accounts due to delinquent loans where the depositor is the borrower or guarantor.  Additionally, any account pledged as collateral for a loan will be held. You may view more information about First California Bank by visiting their web site.

On June 1, 2013, First California Bank merged with Pacific Western Bank.

Pacific Western Bank (www.fcbank.com)


Back to top

VI. Banking Services

The Automated Teller Machines (ATM) will remain available.

As of Monday, January 26, 2009, you may continue to use the services to which you previously had access, such as, online service, safe deposit boxes, night deposit boxes, wire services, etc.

Your checks will be processed as usual. All outstanding checks will be paid against your available insured balance(s) as if no change had occurred. Your new bank will contact you soon regarding any changes in the terms of your account. If you have a problem with a merchant refusing to accept your check, please contact your branch office. An account representative will clear up any confusion about the validity of your checks.

All interest accrued through Friday, January 23, 2009, will be paid at your same rate. First California Bank will be reviewing rates and will provide further information soon. You will be notified of any changes.

Your automatic direct deposit(s) and/or automatic withdrawal(s) will be transferred automatically to your new bank. If you have any questions or special requests, you may contact a representative of your assuming institution at your branch office.


Back to top

VII. Loan Customers

If you had a loan with 1st Centennial Bank, you should continue to make your payments as usual. The terms of your loan will not change under the terms of the loan contract because they are contractually agreed to in your promissory note with the failed institution. Checks should be made payable as usual and sent to the same address until further notice. If you have further questions regarding an existing loan, you may call 1-888-673-3236.

For all questions regarding new loans and the lending policies of First California Bank, please contact your branch office.


Back to top

VIII. Possible Claims Against the Failed Institution

If you or your company provided a service or product, leased space, furniture, or equipment to 1st Centennial Bank after Friday January 23, 2009 and have not been paid you do not have a claim against 1st Centennial Bank. Please follow your normal billing procedures by providing an invoice as instructed.

Claims against failed financial institutions occur when bills sent to the institution remain unpaid at the time of failure. If you or your company provided a service or product, leased space, furniture, or equipment to 1st Centennial Bank prior to Friday January 23, 2009 and have not been paid you may be entitled to a claim against the bank. If you provided a product to or a service for 1st Centennial Bank prior to the bank's failure for which you have not been paid and you have not received communication, please contact the Federal Deposit Insurance Corporation at the address below.

Federal Deposit Insurance Corporation
Receiver: 1st Centennial Bank
1601 Bryan Street
Dallas, TX 75201


(888) 206-4662

Please note: There are time limits for filing a claim, your claim must be filed on or before 04/30/2009.


Back to top

IX. Priority of Claims

In accordance with Federal law, allowed claims will be paid, after administrative expenses, in the following order of priority:

  1. Depositors
  2. General Unsecured Creditors
  3. Subordinated Debt
  4. Stockholders


Back to top

X. Dividend Information

Dividend History on 1st Centennial Bank

Dividend Information on Failed Financial Institutions


Back to top

XI. Brokered Deposits

The FDIC offers a reference guide to deposit brokers acting as agents for their investor clientele. This site outlines the FDIC's policies and procedures that must be followed by deposit brokers when filing for pass-through insurance coverage on custodial accounts deposited in a failed FDIC Insured Institution.

Deposit Broker Processing Guide


Back to top

General Disclaimer