The banks financial goals were to retain superior quality, staying at the forefront of technology and focusing on organic growth and profitability.
Subsequently, the Federal Deposit Insurance Corporation (FDIC) was named Receiver.
In 1983, they diversified to offer full-service personal and business banking, including but notwithstanding wealth management and trust services.
On December 18, 2009, First Federal Bank of California was closed by the Office of Thrift Supervision.
As of December 2010, the FDIC estimates the failure of First Federal Bank of California will cost the deposit insurance fund $10.0 million.