BUT YOUR CHECKS WON’T BOUNCE . . .

During the last six years, 21 local banks and savings and loan institutions have been seized by government regulatory agencies. Since 1984 10 of 31 failed S&Ls; and savings banks in California have been headquartered in Orange County. Of the 21 institutions seized, only five were liquidated.

Those remaining were either purchased by other, healthier organizations or placed under special management programs. In each case, accounts of up to $100,000 were fully insured by either the Federal Deposit Insurance Corp. (FDIC) or the Federal Savings and Loan Insurance Corp. (FSLIC). The government also tries to make sure the small percentage of funds not insured is recovered for the depositor.

The list below is based on the most recent data available from federal deposit insurance and regulatory agencies.

1982

BANK: Western National Bank, Santa Ana DATE SEIZED: Aug. 31 ACTION TAKEN: Acquired by Commonwealth Bank the same day CURRENT STATUS: Owned by Capital Bank of California ASSETS: $25.6 million (as of 12/31/87*) DEPOSITS: $42 million (as of 12/31/87*)

1983 BANK: Newport Harbour National Bank, Newport Beach DATE SEIZED: March 11 ACTION TAKEN: Acquired by Trans American Bank of Monterey Park CURRENT STATUS: Owned by Trans American ASSETS: $47.3 million (as of 12/31/87*) DEPOSITS: $45 million (as of 12/31/87*)

1984 BANK: Heritage Bank, Anaheim DATE SEIZED: March 16 ACTION TAKEN: Liquidated CURRENT STATUS: -- ASSETS: $186.1 million as of liquidation date DEPOSITS: $153 million as of liquidation date BANK: Bank of Irvine, Irvine DATE SEIZED: May 18 ACTION TAKEN: Acquired by Security Pacific State Bank CURRENT STATUS: Owned by Security ASSETS: $31 million (as of 12/31/87*) DEPOSITS: $25 million (as of 12/31/87*) BANK: Garden Grove Community Bank, Garden Grove DATE SEIZED: June 1 ACTION TAKEN: Acquired by Capital Bank of Downey CURRENT STATUS: Owned by Capital ASSETS: $44.04 million (as of 12/31/87*) DEPOSITS: $40 million (as of 12/31/87*)

1985 BANK: South Coast Bank, Costa Mesa DATE SEIZED: April 14 ACTION TAKEN: Acquired by Harbor Bank of Long Beach CURRENT STATUS: Owned by Harbor Bank ASSETS: $31.3 million (as of 12/31/87*) DEPOSITS: $27 million (as of 12/31/87*) BANK: Capistrano National Bank, Santa Ana DATE SEIZED: April 5 ACTION TAKEN: Acquired by Farmers and Merchants Bank of Long Beach CURRENT STATUS: Owned by Farmers ASSETS: $60.9 million (as of 12/31/87*) DEPOSITS: $42 million (as of 12/31/87*) BANK: Butterfield Savings and Loan, Santa Ana DATE SEIZED: Aug. 7 ACTION TAKEN: Placed into receivership and into the management consignment program CURRENT STATUS: Open under the management consignment program ASSETS: $601.97 million (as of 12/31/87*) DEPOSITS: $658.5 million (as of 12/31/87*) BANK: Beverly Hills Savings and Loan, Mission Viejo DATE SEIZED: April 23 ACTION TAKEN: Placed into receivership and into the management consignment program CURRENT STATUS: Open under the management consignment program ASSETS: $1.68 billion (as of 12/31/87*) DEPOSITS: $2 billion (as of 12/31/87*)

1986 BANK: Valencia Bank, Santa Ana DATE SEIZED: Feb. 7 ACTION TAKEN: Acquired by Barclay Bank of California CURRENT STATUS: Barclay has since merged with Wells Fargo Bank ASSETS: $101.1 million (as of 12/31/87*) DEPOSITS: $96 million (as of 12/31/87*) BANK: American Diversified Savings Bank, Costa Mesa DATE SEIZED: Feb. 14 ACTION TAKEN: Placed into conservatorship and into the management consignment program. CURRENT STATUS: As of June 6, 1988, all assets and deposits being liquidated in the form of a payout for insured deposits. ASSETS: $509 million (as of 3/31/88*) DEPOSITS: $1.16 billion (as of 12/31/87*) BANK: Saddleback National Bank, Laguna Hills DATE SEIZED: May 15 ACTION TAKEN: Acquired by Landmark Bank of La Habra CURRENT STATUS: Owned by Landmark ASSETS: $12.7 million (as of 12/31/87*) DEPOSITS: $12.9 million (as of 12/31/87*) BANK: Consolidated Savings Bank, Irvine DATE SEIZED: May 22 ACTION TAKEN: Placed into conservatorship and into the management consignment program CURRENT STATUS: Liquidated on Aug. 29 in the form of a payout to depositors ASSETS: $61.4 million (as of 8/29/86) DEPOSITS: $70.97 million (as of 6/30/86*) BANK: Ramona Savings and Loan, Orange DATE SEIZED: Sept. 12 ACTION TAKEN: Placed into receivership and into management consignment program CURRENT STATUS: Closed on Feb. 26, 1988, insured deposits transferred to Midwest Federal Savings & Loan, Minneapolis, Minn. ASSETS: $44.6 million (as of 2/26/86) DEPOSITS: $102.01 million (as of 12/31/87*) BANK: Orange Coast Thrift and Loan, Los Alamitos DATE SEIZED: June 27 ACTION TAKEN: Acquired by Capital Thrift & Loan of Napa CURRENT STATUS: N/A ASSETS: $12.5 million (as of 6/27/86) DEPOSITS: N/A

1987 BANK: North America Savings and Loan, Santa Ana DATE SEIZED: Jan. 23 ACTION TAKEN: Placed into receivership and into the management consignment program CURRENT STATUS: Liquidated on June 6, 1988, in the form of a payout to depositors ASSETS: $98.2 million (as of 3/31/88*) DEPOSITS: $212.8 million (as of 12/31/87*) BANK: South Bay Savings and Loan, Newport Beach DATE SEIZED: March 6 ACTION TAKEN: Acquired by Standard Pacific on March 6 CURRENT STATUS: Owned by Standard Pacific ASSETS: $95.3 million (as of 12/31/87*) DEPOSITS: $80.3 million (as of 12/31/87*) BANK: Perpetual Savings Bank, Santa Ana DATE SEIZED: March 18 ACTION TAKEN: Placed into receivership and into the management consignment program CURRENT STATUS: Open under management consignment program ASSETS: $46.96 million (as of 12/31/87*) DEPOSITS: $51.7 million (as of 12/31/87*) BANK: New City Bank, Orange DATE SEIZED: March 20 ACTION TAKEN: Acquired by Colonial Bank National Assn. CURRENT STATUS: Owned by Colonial ASSETS: $26 million (as of 12/31/87*) DEPOSITS: $20 million (as of 12/31/87*) BANK: Equitable Savings and Loan, Irvine DATE SEIZED: March 27 ACTION TAKEN: Liquidated, insured deposits transferred to Empire of America, Woodland Hills CURRENT STATUS: -- ASSETS: $59.12 million (as of 3/27/87) DEPOSITS: $83.7 million (as of 12/31/86*) BANK: First California Savings Bank, Orange DATE SEIZED: Aug. 14 ACTION TAKEN: Placed into receivership and into the management consignment program CURRENT STATUS: Open under the management consignment program ASSETS: $205.39 million (as of 12/31/87*) DEPOSITS: $221.8 million (as of 12/31/87*)

* Most recent data available

N/A: Not Available

Management consignment: All deposits, including those uninsured, are transferred to a newly-chartered savings association.

Conservatorship: FSLIC is appointed conservator of a savings association’s assets and brings in new management. The charter, stockholders and board of directors are not changed but final authority over the assets is given to the FSLIC.

Receivership: FSLIC receives assets and liabilities of an institution; charter is provided, board of directors and management replaced and stockholders own stock in an institution that no longer officially exists.

Sources: Federal Home Loan Bank-San Francisco; the Federal Savings and Loan Insurance Corp.