California National Bank: Latest Job Openings, Reviews and Ratings & Profile wise Salary Distribution

California National Bank Careers & Info

California National Bank Overview

Los Angeles, California-based California National Bank was a consumer and business bank. The bank was taken over by federal regulators in 2009, becoming the fourth-largest bank failure of that year. California National Bank was subsequently acquired by U.S. Bancorp. Depositors incurred no losses.

California National Bank was a unit of the FBOP Corporation at the time of the takeover, with $5.6 billion worth of deposits and $7.1 billion worth of total assets. The FBOP Corporation, a bank holding company, founded California National Bank in 1998 after acquiring Torrance Bank and five branches of Topa Savings and Topa Thrift. As of 2007, California National Bank had 68 branches throughout Southern California in Los Angeles, Orange, Ventura, Riverside, and San Bernardino Counties.

However, the bank was hit hard by the 2008 foreclosure crisis. When the government took over Fannie Mae and Freddie Mac in 2008, California National Bank's preferred shares in those two government-sponsored enterprises, which totaled $500 million, was rendered practically worthless. As of its last public filing, the bank had five times as much foreclosed property in its accounts as it had had a year earlier.

California National Bank Job Information

Before it closed, California National Bank had between 500 and 1,000 employees. Tellers were paid approximately $10 an hour, while senior management made over $100,000 a year in salary. No available information on employee benefits can be found.

What jobs pay the most at California National Bank?

Senior Credit Analyst is the highest paying job at California National Bank at $90,000 annually.