Pacific Western Bank, San Diego, California, is responsible for all deposits Los Padres Bank, Solvang, California

Press Releases
Pacific Western Bank, San Diego, California, is responsible for all deposits Los Padres Bank, Solvang, California

AS SOON AS THE PUBLICATION OF THE
20. August 2010 Media Contact:
Greg Hernandez
Phone: (202) 898-6984
Cell: (202) 340-4922
Email: ghernandez@fdic.gov

Los Padres Bank, Solvang, California, has ended today, the Office of Thrift Supervision, which the German Deposit Insurance Corporation (FDIC) as receiver appointed. depositors, purchase and assumption agreement with the Pacific Western Bank, San Diego, California, to assume all deposits Los Padres Bank became the FDIC.

14 branches open bank Los Padres on Monday as the Pacific Western Bank branches of the Bank's depositors Indians. Los is automatically entered into the Pacific Western Bank depositors. FDIC insured Deposits continue, so there is no need for customers to change banking relations between them in order to preserve the deposit insurance coverage. Los Padres bank customers should continue to use the existing branch, before they receive communication in the Pacific Western Bank, that it is complete, so that other Pacific Western Bank branches account for changes in the systems.

This evening and over the weekend, the Bank uses the depositors Los Padres money checks in writing or using ATM or debit card cards. handled for the Bank to carry out checks.Loan customers should continue their for the purpose of effecting payments in the usual manner.

30. June 2010 Los Padres Bank had approximately 870.4 million dollar assets and the 770.7 million in total deposits.Pacific Western Bank shall pay to the FDIC 0,45% assumed all deposits Los Padres Bank premium.In addition to assuming all of the failed bank's deposits, Pacific Western BANK agreed to purchase substantially all the assets.

FDIC and Pacific Western Bank became the LGD of a transaction, 579.8 million dollar Los Indians of EIB funds.Pacific Western Bank share loan losses asset pools LGD within the scope of the agreement.Loss-to-GDP ratio is projected to maximise the return on the transaction to keep the assets covered by the private sector are also expected to the transaction. loan customers to reduce disturbances.For more information about the LGD, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's event can call the FDIC toll free 1-800-640-2751. phone number: 00-functional 9 p.m., Pacific Daylight Time (PDT) until the evening of Saturday-9: 00 a.m. 6: 00 p.m. PDT, on Sunday, at 6: 00 p.m., PDT, and 8: 00 a.m. 8: 00 p.m., PDT. interested parties may also visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/lospadres.html.

FDIC estimates that Deposit Insurance (DIF)-cost is 8,7 million dollars compared to other options., Pacific Western Bank acquisition was the cheapest, the accuracy of the FDIC DIF. Los Padres Bank is FDIC insured with the institution in the territory of the Union to face the nation this year and in California Last 9th FDIC insured institution. closed was District Community Bank Chico, earlier today.

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Congress created the Federal Deposit Insurance Corporation to restore the public's confidence in the nation of the banking system of the 1933. deposits FDIC takaatte successful nation 7,932 banks and savings associations and it contributes to the stability and security by identifying, monitoring and deal with risks for which they are exposed to the FDIC may not. federal tax dollars – the insured financial institutions to finance their activities.

FDIC press releases and other information is electronically available on the Internet at www.fdic.gov order (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained from the FDIC's Public Information Center (877-275-3342 or 703-562-2200).PR-195-2010