On Friday, December 18, 2009, First Federal Bank of California, a Federal Savings Bank was closed by the Office of Thrift Supervision. The FDIC was named Receiver. OneWest Bank, FSB, Pasadena, CA acquired all deposit accounts.
The FDIC as Receiver for First Federal Bank of California, a Federal Savings Bank, Santa Monica, CA has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on June 29, 2021 and has made all dividend distributions required by law.
Effective October 1, 2021, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.
Receivership Status: TERMINATED
Notice of Termination
Notice of Intent to Terminate
Dividend Information
Press Release
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obtain information from you.
ACQUIRING INSTITUTION: OneWest Bank, FSB
About OneWest Bank, FSB
All deposit accounts were transferred to OneWest Bank, FSB, Pasadena, CA ("assuming institution"). Former First Federal Bank of California, a Federal Savings Bank locations reopened as branches of OneWest Bank, FSB.
Your transferred deposits were separately insured from any accounts you may have already had at OneWest Bank, FSB for at least six months after the failure of First Federal Bank of California, a Federal Savings Bank.
You may withdraw your funds from any transferred account without an early withdrawal penalty until you enter into a new deposit agreement with OneWest Bank, FSB as long as the deposits are not pledged as collateral for loans.
Contacting OneWest Bank, FSB
OneWest Bank, FSB has changed its legal name and is currently doing business as CIT Bank, National Association.
You can contact CIT Bank, National Association:
CIT Bank, National Association
95 South Lake Ave
Pasadena, CA 91103
Transaction Documentation
Purchase & Assumption Agreement - PDF (0.6Mb)
Agreement between FDIC and acquiring institution
Bid Summary
Report on the bids to purchase the failed bank