One of the nation's top-performing community banking companies in 2007 is in danger of becoming the next Southern California failure.

With 2008 losses of roughly $48 million, the $939 million-asset 1st Centennial Bancorp in Redlands said late Tuesday that its bank subsidiary is "critically undercapitalized," and that "unless a substantial capital infusion or sale can be accomplished in the very near future, it will not be able to continue as a going concern."

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