WASHINGTON - First Trust Bank, Ontario, Calif., is the industry's second casualty of the year. It failed on March 3.

First Interstate Bank of California is assuming $197 million in 26,200 deposit accounts and will continue to operate First Trust's 14 branches. The Los Angeles-based bank also will purchase $136 million of First Trust's $246 million in assets, according to the Federal Deposit Insurance Corp.

The first failure of 1995 was also in California. Guardian Bank, Los Angeles, was closed Jan. 20. Imperial Bank, also in L.A., assumed $263 million in 4,700 deposit accounts.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.