FDIC: San Luis Trust : "San Luis Trust Bank, FSB, San Luis Obispo, California, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First California Bank, Westlake Village, California, to assume all of the deposits of San Luis Trust Bank, FSB.
The sole branch of San Luis Trust Bank, FSB will reopen on Tuesday as a branch of First California Bank. Depositors of San Luis Trust Bank, FSB will automatically become depositors of First California Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of San Luis Trust Bank, FSB should continue to use their existing branch until they receive notice from First California Bank that it has completed systems changes to allow other First California Bank branches to process their accounts as well.
This evening and over the weekend, depositors of San Luis Trust Bank, FSB can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual."