WASHINGTON, Oct 16 (Reuters) - California bank regulators closed San Joaquin Bank of Bakersfield, Calif., the latest U.S. bank to fail this year.

The Federal Deposit Insurance Corp, which was named receiver, said San Joaquin had $775 million in assets and $631 million in deposits.

Citizens Business Bank of Ontario, Calif., agreed to assume all deposits of San Joaquin, whose five branches will reopen on Monday as branches of Citizens Business Bank.

All shares of San Joaquin Bank were owned by its holding company, San Joaquin Bancorp. The holding company was not included in the closing of the bank, or the receivership. (Reporting by Ayesha Rascoe; editing by Carol Bishopric)