Regulators on Friday shuttered a pair of small banks, including one that operated in Walnut Creek, bringing to 11 the number of U.S. bank failures this year.
Federal regulators abruptly shut down Home Savings of America, including a branch in Walnut Creek’s Rossmoor community, leaving members scrambling to figure out their financial standing.
A federal grand jury on Tuesday indicted Ebrahim Shabudin and Thomas Yu on charges that they falsified corporate books, lied to auditors and conspired to hide substantial loan losses at United Commercial Bank.
Regulators on Friday shut down a Napa-based bank, along with a bank in Central California and two small banks in Georgia.
SONOMA (KCBS)_ Sonoma Valley Bank in Sonoma has closed its doors. The California Department of Financial Institutions took the step after concerns surfaced about the bank’s viability.