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Failed Bank Information for First Vietnamese American Bank, Westminster, CA

On Friday, November 5, 2010, First Vietnamese American Bank was closed by the California Department of Financial Institutions. The FDIC was named Receiver. Grandpoint Bank, Los Angeles, CA acquired all deposit accounts.

The FDIC as Receiver for First Vietnamese American Bank, Westminster, CA has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on February 8, 2019 and has made all dividend distributions required by law.

Effective September 1, 2019, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.

Receivership Status

TERMINATED

Notice of Termination

Effective Date: September 1, 2019


Notice of Intent to Terminate

Publication Date: February 8, 2019

Dividend Information

Report on dividends paid


Press Release

Official press release

cautionBeware of scams!

Please be advised you will not receive any email notification to claim, unlock or suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

caution

Beware of scams!
Please be advised you will not receive any email notification to claim/unlock/suspend your account or to provide any private information. Please be aware of any phishing scams to obtain information from you.

ACQUIRING INSTITUTION: GRANDPOINT BANK

About Grandpoint Bank

All deposit accounts, excluding the Cede & Co. deposits, were transferred to Grandpoint Bank, Los Angeles, CA ("assuming institution"). Former First Vietnamese American Bank locations reopened as branches of Grandpoint Bank.

Your transferred deposits were separately insured from any accounts you may have already had at Grandpoint Bank for at least six months after the failure of First Vietnamese American Bank.

You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Grandpoint Bank as long as the deposits are not pledged as collateral for loans.

Contacting Grandpoint Bank

On July 1, 2018, Grandpoint Bank merged or acquired without government assistance. Pacific Premier Bank has been named the successor.

You can contact Pacific Premier Bank:

Pacific Premier Bank
17901 Von Karman Ave Suite 1200
Irvine, CA 92614

Pacific Premier Bank (www.ppbi.com)

Transaction Documentation

Purchase & Assumption Agreement - PDF
Agreement between FDIC and acquiring institution

Bid Summary
Report on the bids to purchase the failed bank