Need a Bank Vault? Or an ATM? : Failed Bank’s Equipment to Be Sold Off
Need a commercial kitchen, with everything from oven to ladles? Or a table that can seat three dozen people? How about a bank vault door to make your home really secure. Or a nice automated teller machine to keep that money rolling in?
These and hundreds of other pieces of furniture, fixtures and equipment are to be offered later this month in five separate auctions as the Federal Deposit Insurance Corp. tries to recoup some of the losses from the failed Valencia Bank.
The Valencia auctions, which will begin May 27, are the latest in a series of FDIC sales that began last year when the agency, which serves as receiver for almost all failed banks, decided to get rid of some of the physical assets of Heritage Bank, an Anaheim-based institution that was seized by regulators in 1984. In the upcoming series of Valencia auctions, in which the FDIC hopes to raise about $300,000, the offerings include typewriters, copiers, calculators, desks, chairs, paintings, plants, safes, file cabinets and safe deposit boxes from the bank’s corporate office in Santa Ana and from its four branches.
Print Shop Sold
But forget the complete print shop at Valencia’s warehouse in Anaheim. That was sold privately, said Charles E. Coulter, head of the Fullerton auctioneering firm of Charles E. Coulter & Associates. And the bank’s computer system is being withheld from the auctions for a possible private sale, said Charles Holmes, senior FDIC bank liquidation officer with the agency’s Irvine regional office.
The federal agency, which has been acting as receiver since the State Banking Department declared Valencia insolvent and closed it Feb. 7, has hired Coulter to conduct an auction at each of Valencia’s branches.
The auctioneer would not reveal the firm’s fee, but did say it will be less than 10% of gross sales receipts from the five separate sales.
Dates of Auctions
The first two auctions will be held Tuesday at the Fullerton and Orange offices. The auction at the Fullerton branch, 1235 N. Harbor Blvd., will start at 10 a.m., and the auction at the Orange branch, 1045 W. Katella Ave., will start at 3 p.m. Prospective buyers can inspect sale items at both branches from 9 a.m. to 5 p.m. Friday.
The third auction will start at 10 a.m. next Thursday at the bank’s Anaheim branch, 3061 La Palma. Inspection will be all day on Wednesday.
The last two auctions will be May 31 at the Santa Ana corporate headquarters, 1820 West 1st St., and the Irvine office, 18831 Von Karman Ave. The auctions will start at 10 a.m. in Santa Ana and 4 p.m. in Irvine. Inspection will be all day on May 30.
