The Federal Deposit Insurance Corp. has threatened to order the first regulatory shutdown of a California thrift and loan since 1996.

Privately held Pacific Thrift and Loan Co. in Woodland Hills faced a Dec. 31 deadline to "sell enough voting shares or obligations" to be adequately capitalized.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

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