ORANGE COUNTY ALMANAC : 10 Years Ago Today . . .
. . . Two days after Orange County’s oldest independent bank was seized by state and federal regulators, a plan was approved to transfer all insured deposits from the insolvent Valencia Bank of Santa Ana to San Francisco-based Barclays Bank of California.
Bank regulators said significant loan and operating losses had exhausted the bank’s capital.
Source: Times archives
Start your day right
Sign up for Essential California for news, features and recommendations from the L.A. Times and beyond in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.
