With economic conditions akin to a biblical plague, Lancaster, Calif., would seem an unlikely place for banking success.

Sixty miles north of Los Angeles, Lancaster and nearby Palmdale have been besieged by falling real estate prices as defense cutbacks have forced aerospace contractors to lay off thousands in the area.

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.