July 16, 1986
Fast-growing American Commerce National Bank in Costa Mesa posted second-quarter net income of $176,000, an 11% increase over the $158,000 earned in last year's second quarter. Net income for the first six months rose 48.6% to $443,000 from $298,000. The 2-year-old bank has nearly tripled in size in the last 18 months, rising to $55.3 million in assets at the end of June from $18 million at the end of 1984. A year ago, its total assets were $30 million.
November 18, 1993 |
Gerald J. Garner, ousted chairman of failed American Commerce National Bank, has sued federal regulators in an effort to recover his Anaheim bank and win $75 million in damages. Garner's lawyer, Robert M. Silverman, said an amended complaint providing details of Garner's claims would be filed late this week or early next week. The banker filed a three-page, bare-bones lawsuit last month to meet a statutory deadline.
December 15, 1985
MAME Awards, citations for major achievements in merchandising excellence within the Southland home building industry, were announced at the 12th annual black-tie banquet of the Sales & Marketing Council of the Building Industry Assn. of Southern California. The three grand award winners for housing projects that ranged in average home prices from just under $120,000 to over $175,000 were Casablanca, McKellar Development in Rancho Penasquitos; Windrose Series, Buie Corp.
August 4, 1992 |
A signed Jimmy Connors photograph, center court seats to Wimbledon '93 and use of a Jaguar for six months were among the "Priceless Temptations" up for bid last week at the Newport Beach Dukes' third annual auction. A crowd of about 300, many of them professional athletes, attended the auction and buffet dinner at the Four Seasons in Newport Beach. The $75-per-person event was expected to raise more than $30,000 for the Orange County Sports Hall of Fame and UC Irvine Athletic Fund.
September 23, 1994 |
Federal regulators are seeking $1 million each from former Anaheim bankers Gerald and Joan Garner for actions the regulators say led to the April, 1993, failure of American Commerce National Bank, according to legal documents obtained Thursday. The civil penalty sought by the Office of the Comptroller of the Currency is in addition to the agency's effort to ban the Garners and five other directors and officers from the financial industry for life.
September 7, 1990 |
On Labor Day he hung out with the masses in his shirt sleeves at Mile Square Park in Fountain Valley. But two nights later, it was suit-and-tie time for Sen. Pete Wilson. Not only was the Republican gubernatorial candidate in one of Irvine Cove's toniest homes--6,500 square feet of marbled grandeur belonging to builder Tom Tucker and his wife, Joyce--he was with some of the Grand Old Party's most generous glitterati.
October 9, 1993 |
For our lesson in how the chic and the famous do the Ducks on opening night, we have gathered in the Anaheim Arena's capital of chic, the third-floor Vista Room, where there is more marble than a Park Avenue gift shop. And why not? This is where Disney boss Michael D. Eisner and his, ahem, flock of well-heeled chums are doing their version of the tailgate party. There he is now, in fact.
CALIFORNIA | LOCAL
April 22, 1993 |
The robot built from pieces of newspapers, scrap plastic and empty soda bottles buzzed and beeped and finally popped the question. "Who knows what's recyclable?" it asked 100 school kids Wednesday in Pacific Palisades. Every little hand in the room shot up as children shouted answers. Half an hour later, when the robot said goodby and the Earth Week school assembly drew to a close, children had been complimented on being savvy recyclers.
May 1, 1993 |
Federal banking regulators, exercising for the first time new powers to seize financially healthy banks, took over a small Anaheim bank on Friday and accused its operators of concealing records, lying and wasting the bank's finances. The Office of the Comptroller of the Currency, which regulates national banks, ousted American Commerce National Bank's eight directors and five of its officers.
May 3, 1993 |
Southern California Bank said Sunday it has acquired the insured deposits of American Commerce National Bank, two days after federal regulators exercised new powers to seize the financial institution. The Anaheim-based bank will reopen and assume its new name today, and will continue to honor about $110.8 million in deposits, federal regulators said. The automatic teller machine will be back in service Tuesday.