Alliance Bancshares California, the Culver City-based parent of Alliance Bank, said that it could be placed into government receivership if it cannot raise additional capital.

The bank holding company on Thursday said its future was in doubt because of the deterioration of the Southern California real estate market.

Alliance, which has $1.1 billion in assets and six local branches, said its problems stem from souring construction loans, particularly loans for tract projects and single homes.

In a regulatory filing, the institution said that it was trying to stave off receivership by seeking capital either through the sale of securities or through a merger with another bank.

Alliance said it applied for funds under the U.S. Treasury Department’s rescue program, but regulators have indicated “our application will not be accepted except in connection with a merger or capital financing.”

As of Sept. 30, the bank was deemed “under capitalized” and in October was issued a cease and desist order from the Federal Deposit Insurance Corp. directing Alliance to shore up its capital levels. The order also blocked the institution from paying dividends or purchasing stock.

“If the bank is placed into FDIC receivership, it is likely that the bank would be required to cease operations and liquidate,” the institution said in the filing. “If the bank were to liquidate it is unlikely that there would be any assets available to the holders of the preferred or common shareholders of the company.”

Also on Thursday, the bank reported a third quarter net loss of $13.9 million compared to earnings of $2 million for the same period last year.