WASHINGTON - In a move that may reflect yet another supervisory failure, a California bank with a yen for subprime loans and a long history of enforcement actions against it was shut down Friday at high cost to the Bank Insurance Fund.

Pacific Thrift and Loan, a state-chartered institution in Woodland Hills, had just $118 million of assets, but its failure is expected to cost $50 million, or 42% of its assets. The typical failure costs the agency 10% to 15% of a bank's assets.

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