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Bank Failures

Bid Summary for MetroPacific Bank, Irvine, CA

MetroPacific Bank, Irvine, CA
Closing Date: June 26, 2009

Failed Bank Information for MetroPacific Bank, Irvine, CA

Winning Bidder:

Sunwest Bank, Tustin, CA

Winning Bid:

All deposits, whole bank – Asset Discount of $34 million, Deposit Premium 0%

Notes:

  • There was only one conforming bid for this institution. The winning bidder's acquisition of all the deposits was the least costly resolution compared to a liquidation alternative. The liquidation alternative was valued using valuation models to estimate the market value of the assets.
  • For more information on the bid disclosure policy, see Failed Financial Institution Bid Disclosure Policy.

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Last Updated: November 20, 2020