ProPublica

Journalism in the Public Interest

Western Community Bancshares

Palm Desert, Calif. | See all recipients in California

This investment resulted in a loss to taxpayers. See below for details.

$7.29M Disbursed
$0 Returned
$554K Revenue to Gov't
$6.74M Net Outstanding
$7.29M Committed
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The subsidiary bank of Western Community Bancshares, Inc., Frontier Bank, was closed by the Office of the Comptroller of the Currency, and the FDIC was named Receiver on Friday,
11/7/2014.

Events

Date Type Amount Program Description
05/17/2010 Dividend $99,338 CPP Dividends payment
02/16/2010 Dividend $99,338 CPP Dividends payment
11/13/2009 Dividend $99,338 CPP Dividends payment
08/17/2009 Dividend $99,338 CPP Dividends Paid in Aug. 2009
05/31/2009 Dividend $156,733 CPP Dividends Paid Through 5/31/2009
12/23/2008 Purchase $7,290,000 CPP Purchase - Preferred Stock w/ Exercised Warrants

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