Aug. 20, 1975: Heritage Bank opens for business in downtown Anaheim.
December, 1980: Heritage becomes largest independent bank in Orange County with year-end assets in excess of $200 million.
Mid-1982: Heritage assets hit $280 million, but an audit by federal regulators begins and results in a year-end loss of $2 million for the bank as auditors order it to write down the value of numerous real estate loans.
May, 1983: Federal Deposit Insurance Corp. orders Heritage Chairman Douglas Patty's ouster from the bank, alleging mismanagement. Two other directors also are removed. Patty claims regulators are harassing him for his outspoken criticisms.
August, 1983: FDIC orders Heritage to raise $17 million in new capital or face closure.
December, 1983: Securities and Exchange Commission launches investigation of alleged securities law violations by several Heritage insiders.
March 1, 1984: Trading in Heritage Bancorp stock is suspended by the bank, pending an unspecific announcement that never materializes.
March 16, 1984: State banking department declares Heritage insolvent and names FDIC as receiver.
March 15, 1985: FDIC files $54-million negligence suit against 24 defendants, including 19 former officers and directors of Heritage Bank, claiming their mismanagement caused the bank's collapse.