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Federal regulators close 2 SoCal banks

November 24, 2008 12:00:00 AM PST
Federal regulators have shut down two more banks based in Southern California.PFF Bank and Trust, based in Pomona, and Downey Savings and Loan, based in Newport Beach, have both been taken over by US Bank.

Both failed banks were hit hard by the housing and mortgage collapse, and have suffered substantial losses this year. They are the 21st and 22nd banks to fail in the nation this year, and the fourth and fifth banks to close in California.

They have more than 200 branches combined that will now reopen as branches of US Bank.

Customers can call the FDIC for more information.

  • For Downey, call 1-800-930-5169
  • For PFF, call 1-800-930-6827

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