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The Rancho Cucamonga company also said that its officers, except for President and CEO Kevin McCarthy, resigned Tuesday.
The bankruptcy announcement is not surprising, given the fact that federal regulators seized PFF Bank & Trust and handed it over to the Federal Deposit Insurance Corp. on Nov. 21. The FDIC, in turn, sold it to U.S. Bank, the subsidiary of Minneapolis-based U.S. Bancorp.
PFF also said it is selling "certain assets" of its Claremont-based investment subsidiary, Glencrest Investment Advisors Inc., to California Financial Partners Inc. The buyer will pay 35percent of its monthly gross sales commissions to PFF for four years.
A PFF spokesman could not be reached for comment.
During the housing boom, PFF made multi-million-dollar loans to home builders and developers who could not repay what they borrowed.
The company suffered $285million in losses between March 2007 and September.
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