Editor’s Note: This Los Angeles-based bank has well-established branches in the South Bay region. Be aware the FDIC will do everything in it’s power to transition struggling financial institutions before taking the radical step of seizing its assets forcing a bailout. This is a grave situation indeed.

By Richard Clough

(The Los Angeles Business Journal) California National Bank, which had struggled with insufficient capital levels for more than a year, was closed late Friday by regulators, marking the fourth bank failure in Los Angeles County this year.

With assets of $7.8 billion, Cal … Continue Reading