Redlands bank closed...First Centennial Bank

First Centennial, with $803.3 million in assets and $676.9 million in deposits, was shut by the California Department of Financial Institutions and the Federal Deposit Insurance Corp. was named receiver. First California Bank, based in Westlake Village, will assume deposits and open the failed bank’s 6 offices near Los Angeles and San Diego on Jan. 26 as branches, the FDIC said.

“Depositors of the failed bank will automatically become depositors of First California," the FDIC said in an e-mailed statement. “There is no need for customers to change their banking relationship to retain their deposit insurance coverage."