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Banking

August 27, 1994|From Times Staff and Wire Reports

Capital Bank Seized, Deposits Sold: La Habra-based Landmark Bank said that it and Commerce National Bank acquired about $72 million of the insured deposits of Downey-based Capital Bank, which was seized by state banking authorities earlier in the day. The Federal Deposit Insurance Corp. was appointed receiver of Capital Bank, whose branches in La Palma, Cerritos and Compton will be consolidated as the new La Palma office of Landmark Bank. Deposits of Capital Bank's Yorba Linda office will be consolidated with Landmark's Placentia office. Deposits of Capital Bank's Downey office will remain in Downey and will be operated as the new Downey branch office of Commerce National.

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