California National Bank was a consumer and business bank in the Southern California

Southern California

Southern California is a megaregion, or megapolitan area, in the southern area of the U.S. state of California. Large urban areas include Greater Los Angeles and Greater San Diego. The urban area stretches along the coast from Ventura through the Southland and Inland Empire to San Diego...

 area.

Overview

Cal National Bank originally began in 1996 when FBOP Corporation

FBOP Corporation

FBOP Corporation was a bank holding company based in Oak Park, Illinois, USA. As of mid 2009, it had $18.5 billion in assets and was the 46th largest bank holding company in the United States. On October 30, 2009, FBOP's banking subsidiaries were closed by their chartering agencies and the...

 acquired Torrance Bank. Two years later, FBOP acquired five branches of Topa Savings and Topa Thrift, establishing California National Bank.

As Cal National started growing, they acquired People’s Bank of California in 2001 and Fidelity Federal Bank in 2002.

Since 2007, Cal National has grown to 68 branches throughout Southern California.

Bank failure

On Friday, October 30, 2009, California National Bank, Los Angeles, CA was closed by the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. All deposits and branches were transferred to U.S. Bank.