ORANGE COUNTY ALMANAC : 10 Years Ago Today . . .
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. . . Two days after Orange County’s oldest independent bank was seized by state and federal regulators, a plan was approved to transfer all insured deposits from the insolvent Valencia Bank of Santa Ana to San Francisco-based Barclays Bank of California.
Bank regulators said significant loan and operating losses had exhausted the bank’s capital.
Source: Times archives
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