WASHINGTON - The Federal Deposit Insurance Corp. said it approved the assumption of the insured deposits of American Interstate Bank of Newport Beach, Calif., by Marine National Bank of Irvine, Calif.
American Interstate, which had $43.8 million in assets, was closed Friday by California's banking superintendent, James E. Gilleran. The bank's two offices reopened Monday as branches of Marine National.
Marine assumed about $40.1 million of deposits in some 2,800 accounts, excluding about $1.4 million in 34 accounts that exceeded the FDIC insurance limit of $100,000.
