Failed Bank Information for Security Pacific Bank, Los Angeles, CA
On Friday, November 7, 2008, Security Pacific Bank was closed by the California Department of Financial Institutions. The FDIC was named Receiver. Pacific Western Bank, Los Angeles, CA acquired all deposit accounts.
The FDIC as Receiver for Security Pacific Bank, Los Angeles, CA has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on August 11, 2022 and has made all dividend distributions required by law.
Effective April 1, 2023, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.
Effective Date: April 1, 2023
Publication Date: August 11, 2022
Report on dividends paid
Official press release
Beware 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.
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: PACIFIC WESTERN BANK
About Pacific Western Bank
All deposit accounts were transferred to Pacific Western Bank, Los Angeles, CA ("assuming institution"). Former Security Pacific Bank locations reopened as branches of Pacific Western Bank.
Your transferred deposits were separately insured from any accounts you may have already had at Pacific Western Bank for at least six months after the failure of Security Pacific Bank.
You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with Pacific Western Bank as long as the deposits are not pledged as collateral for loans.
Contacting Pacific Western Bank
You can contact Pacific Western Bank:
Pacific Western Bank
9701 Wilshire Blvd
Beverly Hills, CA 90212
Pacific Western Bank (www.pacwest.com)
Purchase & Assumption Agreement - PDF (3 Mb)
Agreement between FDIC and acquiring institution