Two more California banks have failed and subsequently are now under new management.
San Luis Trust Bank, based in San Luis Obispo, opened last week as a new branch of First California Bank. San Luis Trust had $333 million in total assets, and First California has $1,7 billion, according to the FDIC. The bank was also mainly focused on investing in real estate. Luckily, the bank has just one office to convert into First California colors.
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