October 30, 1993 |
Bank of San Diego Seized: The state Banking Department seized the nine-branch bank, which has $300 million in assets and offices in San Diego County, Long Beach and Santa Ana. Losses of $24 million over the last two years rendered the bank nearly insolvent, said regulators, who had anticipated the seizure and arranged beforehand to sell Long Beach and Santa Ana branch deposits to Harbor Bank of Long Beach. Deposits in the seven San Diego branches have been acquired by Grossmont Bank of La Mesa.
June 19, 1992 |
The Bank of San Diego's parent company said it expects to report a "significant" loss for the second quarter ending this month, and that it will lay off an unspecified number of employees because of a consolidation to cut costs. BSD Bancorp. said the consolidation involves the merger of its four-branch American Valley Bank subsidiary based in El Cajon and its two-branch Coast Bank based in Long Beach into the Bank of San Diego, its main operation.
January 18, 1992
I am not going to write any new letters regarding Coach Dull Knox. I'll simply dig out the old ones and re-send them. JANN GATH Long Beach
April 30, 1991 |
Mountains of capital, sound management and a clear business focus are important ingredients in succeeding at any business, especially in starting up a new bank. But patience too can be an imperative. Take First National Bank of San Diego, one of six San Diego County-based companies to make the annual Times 100 list, published today, of California's most profitable companies. The bank posted profits of $6.5 million in 1990 and $5.