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FIRST PACIFIC BANK v. GILLERAN

Nos. 91-55890, 91-56081.

40 F.3d 1023 (1994)

FIRST PACIFIC BANK; First Pacific Bancorp, Inc., Plaintiffs-Appellants, v. James E. GILLERAN; California State Banking Department; Federal Deposit Insurance Corporation, as Receiver for First Pacific Bank, Defendants-Appellees. FIRST PACIFIC BANK; First Pacific Bancorp, Inc., Plaintiffs-Appellees, v. James E. GILLERAN; California State Banking Department, Defendants-Appellants.

United States Court of Appeals, Ninth Circuit.

Decided November 21, 1994.

Attorney(s) appearing for the Case

Brant M. Laue, Rouse, Hendricks, German, May & Shank, Kansas City, MO, for plaintiffs-appellants-cross-appellees.

Joseph M. O'Heron, Deputy Atty. Gen., Los Angeles, CA, for defendants-appellees-cross-appellants.

Before: WALLACE, Chief Judge, REINHARDT, Circuit Judge, and TANNER, District Judge.

WALLACE, Chief Judge:

On August 10, 1990, the State of California (State) seized control of First Pacific Bank (Bank) pursuant to California Financial Code (Financial Code) § 3100 because, among other things, it concluded that the Bank's contributed capital was impaired. The State appointed the Federal Deposit Insurance Corporation (FDIC) as receiver for the Bank. In accordance with Financial Code § 3101, the Bank and its owners brought suit in state court...

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