Bank Failures - Analysis of 2007 to 2011 Failed Banks



Bank Failures: December 16, 2011 – Regulators Seize Banks in Florida and Arizona, as 2011 Bank Failures Rise to 92.

On Friday, Regulators closed Premier Community Bank of the Emerald Coast, Crestview, Florida and Western National Bank, Phoenix, Arizona. Assets of these two banks totaled $288.9 million and their failure is estimated to cost the FDIC $68.8 million. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Summit Bank, National Association, Panama City, Florida, to assume all of the deposits of Premier Community Bank of the Emerald Coast, and with Washington Federal, Seattle, Washington, to assume all of the deposits of Western National Bank.

The pace of bank failures fell in November to five banks with assets totaling $841.3 million and at an estimated cost to the FDIC of $147.0 million. In October there were eleven bank failures with assets totaling $3.5 billion and at an estimated cost to the FDIC of $776.7 million.

Presented below is a Comprehensive Bank Failure Analysis for the period from the start of the financial crisis in 2007 and through the current date.

FDIC Bank Failures
Year No. of Failed Banks Total Assets of Failed Banks Loss to FDIC's DIF
2007 3 $2,602,500,000 $113,000,000
2008 25 $373,588,780,000 $15,708,200,000
2009 140 $170,867,700,000 $36,432,500,000
2010 157 $96,514,000,000 $22,355,300,000
2011 92 $36,012,200,000 $7,175,200,000
Total 417 $679,585,180,000 $81,784,200,000

2011-Q3 Bank Failures. The third quarter of 2011 had a total of 26 bank failures, with assets totaling $11.7 billion and at a cost to the FDIC of $2.4 billion. For the quarter, Florida, with six bank failures, continue to lead with the highest number of bank failures, followed by Georgia with 5, Colorado and Illinois with three each, and Virginia with two.

2011-Q2 Bank Failures. The second quarter of 2011 had a total of 22 bank failures, with assets totaling $9.7 billion and at a cost to the FDIC of $1.97 billion. Of the 22 bank failures, eight were in Georgia, four in Florida, two each in Washington State and Alabama, and one each in South Carolina, Michigan, Mississippi, Minnesota, Nevada and Illinois. The largest bank failure during the quarter was Superior Bank of Birmingham, Alabama with assets totaling $3.0 billion and an estimated loss to the FDIC of $259.6 billion. For this bank failure, Superior Bank, N.A., a newly-chartered bank subsidiary of Community Bancorp LLC, Houston, Texas, was created to assume all of the deposits of Superior Bank. The new bank and the FDIC entered into a loss-share transaction on $1.84 billion of Superior Bank's assets.

2011-Q1 Bank Failures. The first quarter of 2011 had a total of 26 bank failures, with assets totaling $10.0 billion and at a cost to the FDIC of $1.85 billion. Of the 26 bank failures, Georgia had 6, Illinois, Wisconsin and California had 3 each, Colorado, Florida and Oklahoma had 2 each, and Arizona, Michigan, North Carolina, New Mexico and South Carolina had one each. The largest of these bank failures were First Community Bank in New Mexico with assets of $2.31 billion, and United Western Bank in Denver, Colorado with assets of $2.05 billion.

These bank failures are generally due to inadequate capital and mounting loan losses as defaults on commercial loans and residential mortgage loans continue to impair the liquidity and capital reserves of these less capitalized regional banks.

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2007 - 2011 Bank Failures. Since the start of the financial crisis in 2007, there have been 417 bank failures with assets totaling a staggering $679.6 billion, deposits totaling $487.1 billion, and at an estimated cost to the FDIC’s Deposit Insurance Fund (DIF) of $81.8 billion.

Bank Failure Cause . The collapse of the housing market, and the increase in mortgage delinquencies and home foreclosures, coupled with the credit crisis have all led to a dramatic increase in bank failures over the past few years. These bank failures are due to inadequate capital and mounting loan losses primarily from residential mortgages and, more recently, from commercial loans. The number of FDIC Problem Banks and financial institutions on the FDIC’s watch List stands at 844 at the end of September 2011.

When banks fail, the FDIC is appointed as receiver. Depositors are protected up to the FDIC insurance limit, currently at $250,000. In most cases, the FDIC arranges for the branches and insured deposits to be transferred to another well capitalized bank, and banking services for the failed bank's customers generally continue uninterrupted.

Below is a complete list of FDIC bank failures and analysis compiled from the FDIC's failed bank list data.

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FDIC Failed Banks Closing Date of Failed Bank Deposits Transferred to Total Assets of Failed Bank Total Deposits of Failed Bank

2011 BANK FAILURES

Western National Bank, Phoenix, AZ
Dec 16, 2011
Closed by the Office of the Comptroller of the Currency, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Washington Federal, Seattle, Washington, to assume all of the deposits of Western National Bank.
$162.9 million
$144.5 million
Premier Community Bank of the Emerald Coast, Crestview, FL
Dec 16, 2011
Closed by the Florida Office of Financial Regulation, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Summit Bank, National Association, Panama City, Florida, to assume all of the deposits of Premier Community Bank of the Emerald Coast.
$126.0 million
$112.1 million
Central Progressive Bank, Lacombe, LA
Nov 18, 2011
Closed by the Louisiana Office of Financial Institutions, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with First NBC Bank, New Orleans, Louisiana, to assume all of the deposits of Central Progressive Bank.
$383.1 million
$347.7 million
Polk County Bank, Johnston, IA
Nov 18, 2011
Closed by the Iowa Division of Banking, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Grinnell State Bank, Grinnell, Iowa, to assume all of the deposits of Polk County Bank.
$91.6 million
$82.0 million
Community Bank of Rockmart, Rockmart, GA
Nov 10, 2011
Closed by the Georgia Department of Banking and Finance, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Century Bank of Georgia, Cartersville, Georgia, to assume all of the deposits of Community Bank of Rockmart.
$62.4 million
$55.9 million
SunFirst Bank, Saint George, UT
Nov 4, 2011
Closed by the Utah Department of Financial Institutions, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Cache Valley Bank, Logan, Utah, to assume most of the deposits of SunFirst Bank. The FDIC will retain approximately $15 million in deposits that may be subject to external litigation involving SunFirst Bank.
$198.1 million
$169.1 million
Mid City Bank, Inc., Omaha, NE
Nov 4, 2011
Closed by the Nebraska Department of Banking and Finance, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Purdum State Bank, Purdum, Nebraska, to assume all of the deposits of Mid City Bank, Inc.
$106.1 million
$105.5 million
All American Bank, Des Plaines, IL
Oct 28, 2011
Closed by the Illinois Department of Financial and Professional Regulation – Division of Banking, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with International Bank of Chicago, Chicago, Illinois, to assume all of the deposits of All American Bank.
$37.8 million
$33.4 million
Community Banks of Colorado, Greenwood Village, CO
Oct 21, 2011
Closed by the Board of Governors of the Federal Reserve System, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Bank Midwest, National Association, Kansas City, Missouri, to assume all of the deposits of Community Banks of Colorado.
$1.38 billion
$1.33 billion
Community Capital Bank, Jonesboro, GA
Oct 21, 2011
Closed by Georgia Department of Banking and Finance, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with State Bank and Trust Company, Macon, Georgia, to assume all of the deposits of Community Capital Bank.
$181.2 million
$166.2 million
Decatur First Bank, Decatur, GA
Oct 21, 2011
Closed by Georgia Department of Banking and Finance, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Fidelity Bank, Atlanta, Georgia, to assume all of the deposits of Decatur First Bank.
$191.5 million
$179.2 million
Old Harbor Bank, Clearwater, FL
Oct 21, 2011
Closed by Florida Office of Financial Regulation, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with 1st United Bank, Boca Raton, Florida, to assume all of the deposits of Old Harbor Bank.
$215.9 million
$217.8 million
Country Bank, Aledo, IL
Oct 14, 2011
Closed by Illinois Department of Financial and Professional Regulation – Division of Banking, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Blackhawk Bank & Trust, Milan, Illinois, to assume all of the deposits of Country Bank.
$190.6 million
$167.5 million
First State Bank, Cranford, NJ
Oct 14, 2011
Closed by New Jersey Department of Banking and Insurance, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Northfield Bank, Staten Island, New York, to assume all of the deposits of First State Bank.
$204.4 million
$201.2 million
Blue Ridge Savings Bank, Inc., Asheville, NC
Oct 14, 2011
Closed by North Carolina Office of Commissioner of Banks, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Bank of North Carolina, Thomasville, North Carolina, to assume all of the deposits of Blue Ridge Savings Bank, Inc.
$161.0 million
$158.7 million
Piedmont Community Bank, Gray, GA
Oct 14, 2011
Closed by Georgia Department of Banking and Finance, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with State Bank and Trust Company, Macon, Georgia, to assume all of the deposits of Piedmont Community Bank.
$201.7 million
$181.4 million
Sun Security Bank, Ellington, MO
Oct 07, 2011
Closed by Missouri Division of Finance, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Great Southern Bank, Springfield, Missouri, to assume all of the deposits of Sun Security Bank.
$355.9 million
$290.4 million
The RiverBank, Wyoming, MN
Oct 07, 2011
Closed by Minnesota Department of Commerce, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Central Bank, Stillwater, Minnesota, to assume all of the deposits of The RiverBank.
$417.4 million
$379.3 million
First International Bank, Plano, TX
Sept 30, 2011
Closed by Texas Department of Banking, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with American First National Bank, Houston, Texas, to assume all of the deposits of First International Bank.
$239.9 million
$208.8 million
Citizens Bank of Northern California, Nevada City, CA
Sept 23, 2011
Closed by California Department of Financial Institutions, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Tri Counties Bank, Chico, California, to assume all of the deposits of Citizens Bank of Northern California.
$288.8 million
$253.1 million
Bank of the Commonwealth, Norfolk, VA
Sept 23, 2011
Closed by Virginia State Corporation Commission, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Southern Bank and Trust Company, Mount Olive, North Carolina, to assume all of the deposits of Bank of the Commonwealth.
$985.1 million
$901.8 million
The First National Bank of Florida, Milton, FL
Sept 9, 2011
Closed by Office of the Comptroller of the Currency, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with CharterBank, West Point, Georgia, to assume all of the deposits of The First National Bank of Florida.
$296.8 million
$280.1 million
CreekSide Bank, Woodstock, GA
Sept 2, 2011
Closed by Georgia Department of Banking and Finance, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Georgia Commerce Bank, Atlanta, Georgia, to acquire the banking operations, including all the deposits, of Patriot Bank of Georgia, and CreekSide Bank.
$102.3 million
$96.6 million
Patriot Bank of Georgia, Cumming, GA
Sept 2, 2011
Closed by Georgia Department of Banking and Finance, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Georgia Commerce Bank, Atlanta, Georgia, to acquire the banking operations, including all the deposits, of Patriot Bank of Georgia, and CreekSide Bank.
$150.8 million
$111.2 million
First Choice Bank, Geneva, IL
Aug 19, 2011
Closed by Illinois Department of Financial and Professional Regulation—Division of Banking and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Inland Bank & Trust, Oak Brook, Illinois, to assume all of the deposits of First Choice Bank.
$141.0 million
$137.2 million
First Southern National Bank, Statesboro, GA
Aug 19, 2011
Closed by Comptroller of the Currency and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Heritage Bank of the South, Albany, Georgia, to assume all of the deposits of First Southern National Bank.
$164.6 million
$159.7 million
Lydian Private Bank, Palm Beach, FL
Aug 19, 2011
Lydian Private Bank, Palm Beach, FL, including its division Virtual Bank, was closed by the Office of the Comptroller of the Currency and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Sabadell United Bank, National Association, Miami, Florida, to assume all of the deposits of Lydian Private Bank.
$1.70 billion
$1.24 billion
Public Savings Bank, Huntingdon Valley, PA
Aug 18, 2011
Closed by Pennsylvania Department of Banking and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Capital Bank, National Association, Rockville, Maryland, to assume all of the deposits of Public Savings Bank.
$46.8 million
$45.8 million
The First National Bank of Olathe, Olathe, KS
Aug 12, 2011
Closed by Comptroller of the Currency and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Enterprise Bank & Trust, Clayton, Missouri, to assume all of the deposits of First National Bank of Olathe.
$538.1 million
$524.3 million
Bank of Whitman, Colfax, WA
Aug 5, 2011
Closed by Washington State Department of Financial Institutions and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Columbia State Bank, Tacoma, Washington, to assume all of the deposits of Bank of Whitman.
$548.6 million
$515.7 million
Bank of Shorewood, Shorewood, IL
Aug 5, 2011
Closed by Illinois Department of Financial and Professional Regulation—Division of Banking, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Heartland Bank and Trust Company, Bloomington, Illinois, to assume all of the deposits of Bank of Shorewood.
$110.7 million
$104.0 million
Integra Bank National Association (N.A.), Evansville, IN
July 29, 2011
Closed by Office of the Comptroller of the Currency and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Old National Bank, Evansville, Indiana, to assume all of the deposits of Integra Bank, National Association.
$2.2 billion
$1.9 billion
BankMeridian, N.A., Columbia, SC
July 29, 2011
Closed by Office of the Comptroller of the Currency and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with SCBT, National Association, Orangeburg, South Carolina, to assume all of the deposits of BankMeridian, N.A.
$239.8 million
$215.5 million
Virginia Business Bank, Richmond, VA
July 29, 2011
Closed by Virginia State Corporation Commission and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Xenith Bank, Richmond, Virginia, to assume all of the deposits of Virginia Business Bank.
$95.8 million
$85.0 million
Bank of Choice, Greeley, CO
July 22, 2011
Closed by Colorado Division of Banking and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Bank Midwest, National Association, Kansas City, Missouri, to assume all of the deposits of Bank of Choice.
$1.07 billion
$924.9 million
LandMark Bank of Florida, Sarasota, FL
July 22, 2011
Closed by Florida Office of Financial Regulation and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with American Momentum Bank, Tampa, Florida, to acquire the banking operations, including all the deposits, of Southshore Community Bank, and LandMark Bank of Florida.
$275.0 million
$246.7 million
Southshore Community Bank, Apollo Beach, FL
July 22, 2011
Closed by Florida Office of Financial Regulation and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with American Momentum Bank, Tampa, Florida, to acquire the banking operations, including all the deposits, of Southshore Community Bank, and LandMark Bank of Florida.
$46.3 million
$45.3 million
Summit Bank, Prescott, AZ
July 15, 2011
Closed by Arizona Department of Financial Institutions and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with The Foothills Bank, Yuma, Arizona, to assume all of the deposits of Summit Bank.
$72.0 million
$66.4 million
First Peoples Bank, Port Saint Lucie, FL
July 15, 2011
Closed by Florida Office of Financial Regulation and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Premier American Bank, National Association, Miami, Florida, to assume all of the deposits of First Peoples Bank.
$228.3 million
$209.7 million
High Trust Bank, Stockbridge, GA
July 15, 2011
Closed by Georgia Department of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Ameris Bank, Moultrie, Georgia, to acquire the banking operations, including all the deposits, of High Trust Bank, Stockbridge, Georgia, and One Georgia Bank, Atlanta, Georgia.
$192.5 million
$189.5 million
One Georgia Bank, Atlanta, GA
July 15, 2011
Closed by Georgia Department of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Ameris Bank, Moultrie, Georgia, to acquire the banking operations, including all the deposits, of High Trust Bank, Stockbridge, Georgia, and One Georgia Bank, Atlanta, Georgia.
$186.3 million
$162.1 million
Signature Bank, Windsor, CO
July 08, 2011
Closed by Colorado Division of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Points West Community Bank, Julesburg, Colorado, to assume all of the deposits of Signature Bank.
$66.7 million
$64.5 million
Colorado Capital Bank, Castle Rock, CO
July 08, 2011
Closed by Colorado Division of Banking and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with First-Citizens Bank & Trust Company, Raleigh, North Carolina, to assume all of the deposits of Colorado Capital Bank.
$717.5 million
$672.8 million
First Chicago Bank & Trust, Chicago, IL
July 08, 2011
Closed by Illinois Department of Financial and Professional Regulation and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Northbrook Bank & Trust Company, Northbrook, Illinois, to assume all of the deposits of First Chicago Bank & Trust.
$959.3 million
$887.5 million
Mountain Heritage Bank, Clayton, GA
June 24, 2011
Closed by Georgia Department of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with First American Bank and Trust Company, Athens, Georgia, to assume all of the deposits of Mountain Heritage Bank.
$103.7 million
$89.6 million
First Commercial Bank of Tampa Bay, Tampa, FL
June 17, 2011
Closed by Florida Office of Financial Regulation and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Stonegate Bank, Fort Lauderdale, Florida, to assume all of the deposits of First Commercial Bank of Tampa Bay.
$98.6 million
$92.6 million
McIntosh State Bank, Jackson, GA
June 17, 2011
Closed by Georgia Department of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Hamilton State Bank, Hoschton, Georgia, to assume all of the deposits of McIntosh State Bank.
$339.9 million
$324.4 million
Atlantic Bank and Trust, Charleston, SC
June 3, 2011
Closed by Office of Thrift Supervision and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with First Citizens Bank and Trust Company, Inc., Columbia, South Carolina, to assume all of the deposits of Atlantic Bank and Trust.
$208.2 million
$191.6 million
First Heritage Bank, Snohomish, WA
May 27, 2011
Closed by Washington State Department of Financial Institutions and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Columbia State Bank, Tacoma, Washington, to assume all of the deposits of First Heritage Bank.
$173.5 million
$163.3 million
Summit Bank, Burlington, WA
May 20, 2011
Closed by Washington State Department of Financial Institutions and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Columbia State Bank, Tacoma, Washington, to assume all of the deposits of Summit Bank.
$142.7 million
$131.6 million
First Georgia Banking Company, Franklin, GA
May 20, 2011
Closed by Georgia Department of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with CertusBank, National Association, Easley, South Carolina, to acquire the banking operations, including all the deposits, of Atlantic Southern Bank, Macon, Georgia, and First Georgia Banking Company, Franklin, Georgia.
$731.0 million
$702.2 million
Atlantic Southern Bank, Macon, GA
May 20, 2011
Closed by Georgia Department of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with CertusBank, National Association, Easley, South Carolina, to acquire the banking operations, including all the deposits, of Atlantic Southern Bank, Macon, Georgia, and First Georgia Banking Company, Franklin, Georgia.
$741.9 million
$707.6 million
Coastal Bank, Cocoa Beach, FL
May 6, 2011
Closed by Office of Thrift Supervision and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Premier American Bank, National Association, Miami, Florida, to assume all of the deposits of Coastal Bank.
$129.4 million
$123.9 million
Community Central Bank, Mount Clemens, MI
April 29, 2011
Closed by Michigan Office of Financial and Insurance Regulation and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Talmer Bank & Trust, Troy, Michigan, formerly known as First Michigan Bank, to assume all of the deposits of Community Central Bank.
$476.3 million
$385.4 million
The Park Avenue Bank, Valdosta, GA
April 29, 2011
Closed by Georgia Department of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Bank of the Ozarks, Little Rock, Arkansas, to assume all of the deposits of The Park Avenue Bank.
$953.3 million
$827.7 million
First Choice Community Bank, Dallas, GA
April 29, 2011
Closed by Georgia Department of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Bank of the Ozarks, Little Rock, Arkansas, to assume all of the deposits of First Choice Community Bank.
$308.5 million
$310.0 million
Cortez Community Bank, Brooksville, FL
April 29, 2011
Closed by Florida Office of Financial Regulation and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Premier American Bank, National Association, Miami, Florida, to assume all of the deposits of Cortez Community Bank.
$70.9 million
$61.4 million
First National Bank of Central Florida, Winter Park, FL
April 29, 2011
Closed by Office of the Comptroller of the Currency and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Premier American Bank, National Association, Miami, Florida, to assume all of the deposits of First National Bank of Central Florida.
$352.0 million
$312.1 million
Heritage Banking Group, Carthage, MS
April 15, 2011
Closed by Mississippi Department of Banking and Consumer Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Trustmark National Bank, Jackson, Mississippi, to assume all of the deposits of Heritage Banking Group.
$224.0 million
$196.2 million
Rosemount National Bank, Rosemount, MN
April 15, 2011
Closed by Office of the Comptroller of the Currency, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Central Bank, Stillwater, Minnesota, to assume all of the deposits of Rosemount National Bank.
$37.6 million
$36.6 million
Superior Bank, Birmingham, AL
April 15, 2011
Closed by Office of Thrift Supervision and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement Superior Bank, N.A., Birmingham, Alabama, a newly-chartered bank subsidiary of Community Bancorp LLC, Houston, Texas, to assume all of the deposits of Superior Bank.
$3.0 billion
$2.7 billion
Nexity Bank, Birmingham, AL
April 15, 2011
Closed by State of Alabama Banking Department and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with AloStar Bank of Commerce, Birmingham, Alabama, a newly-chartered bank, to assume all of the deposits of Nexity Bank.
$793.7 million
$637.8 million
New Horizons Bank, East Ellijay, GA
April 15, 2011
Closed by Georgia Department of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Citizens South Bank, Gastonia, North Carolina, to assume all of the deposits of New Horizons Bank.
$110.7 million
$106.1 million
Bartow County Bank, Cartersville, GA
April 15, 2011
Closed by Georgia Department of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Hamilton State Bank, Hoschton, Georgia, to assume all of the deposits of Bartow County Bank.
$330.2 million
$304.1 million
Nevada Commerce Bank, Las Vegas, NV
April 8, 2011
Closed by Nevada Financial Institutions Division and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with City National Bank, Los Angeles, California, to assume all of the deposits of Nevada Commerce Bank.
$144.9 million
$136.4 million
Western Springs National Bank and Trust, Western Springs, IL
April 8, 2011
Closed by Office of the Comptroller of the Currency and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Heartland Bank and Trust Company, Bloomington, Illinois, to assume all of the deposits of Western Springs National Bank and Trust.
$186.8 million
$181.9 million
The Bank of Commerce, Wood Dale, IL
March 25, 2011
Closed by Illinois Department of Financial & Professional Regulation-Division of Banking and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Advantage National Bank Group, Elk Grove Village, Illinois, to assume all of the deposits of The Bank of Commerce.
$163.1 million
$161.4 million
Legacy Bank, Milwaukee, WI
March 11, 2011
Closed by Wisconsin Department of Financial Institutions and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Seaway Bank and Trust Company, Chicago, Illinois, to assume all of the deposits of Legacy Bank.
$190.4 million
$183.3 million
The First National Bank of Davis, Davis, OK
March 11, 2011
Closed by Office of the Comptroller of the Currency and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with The Pauls Valley National Bank, Pauls Valley, Oklahoma, to assume all of the deposits of The First National Bank of Davis.
$90.2 million
$68.3 million
Valley Community Bank, St. Charles, IL
February 25, 2011
Closed by Illinois Department of Financial and Professional Regulation – Division of Banking and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with First State Bank, Mendota, Illinois, to assume all of the deposits of Valley Community Bank.
$123.8 million
$124.2 million
San Luis Trust Bank, FSB, San Luis Obispo, CA
February 18, 2011
Closed by Office of Thrift Supervision and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with First California Bank, Westlake Village, California, to assume all of the deposits of San Luis Trust Bank, FSB.
$332.6 million
$272.2 million
Charter Oak Bank, Napa, CA
February 18, 2011
Closed by California Department of Financial Institutions and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Bank of Marin, Novato, California, to assume all of the deposits of Charter Oak Bank.
$120.8 million
$105.3 million
Citizens Bank of Effingham, Springfield, GA
February 18, 2011
Closed by Georgia Department of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with HeritageBank of the South, Albany, Georgia, to assume all of the deposits of Citizens Bank of Effingham.
$214.3 million
$206.5 million
Habersham Bank, Clarkesville, GA
February 18, 2011
Closed by Georgia Department of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with SCBT National Association, Orangeburg, South Carolina, to assume all of the deposits of Habersham Bank.
$387.6 million
$339.9 million
Canyon National Bank, Palm Springs, CA
February 11, 2011
Closed by Office of the Comptroller of the Currency and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Pacific Premier Bank, Costa Mesa, California, to assume all of the deposits of Canyon National Bank.
$210.9 million
$205.3 million
Badger State Bank, Cassville, WI
February 11, 2011
Closed by Wisconsin Department of Financial Institutions and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Royal Bank, Elroy, Wisconsin, to assume all of the deposits of Badger State Bank.
$83.8 million
$78.5 million
Peoples State Bank, Hamtramck, MI
February 11, 2011
Closed by Michigan Office of Financial and Insurance Regulation and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with First Michigan Bank, Troy, Michigan, to assume all of the deposits of Peoples State Bank.
$390.5 million
$389.9 million
Sunshine State Community Bank, Port Orange, FL
February 11, 2011
Closed by Florida Office of Financial Regulation and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Premier American Bank, National Association, Miami, Florida, to assume all of the deposits of Sunshine State Community Bank.
$125.5 million
$116.7 million
Community First Bank Chicago, Chicago, IL
February 4, 2011
Closed by Illinois Department of Financial and Professional Regulation and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Northbrook Bank and Trust Company, Northbrook, Illinois, to assume all of the deposits of Community First Bank – Chicago.
$51.1 million
$49.5 million
North Georgia Bank, Watkinsville, GA
February 4, 2011
Closed by Georgia Department of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with BankSouth, Greensboro, Georgia, to assume all of the deposits of North Georgia Bank, except certain brokered and Internet deposits.
$153.2 million
$139.7 million
American Trust Bank, Roswell, GA
February 4, 2011
Closed by Georgia Department of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Renasant Bank, Tupelo, Mississippi, to assume all of the deposits of American Trust Bank.
$238.2 million
$222.2 million
First Community Bank, Taos, NM
January 28, 2011
Closed by New Mexico Financial Institutions Division and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with U.S. Bank, National Association, Minneapolis, Minnesota, to assume all of the deposits of First Community Bank.
$2.31 billion
$1.94 billion
FirsTier Bank, Louisville, CO
January 28, 2011
Closed by Colorado Division of Banking and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC created the Deposit Insurance National Bank of Louisville (DINB), which will remain open until February 28, 2011.
$781.5 million
$722.8 million
Evergreen State Bank, Stoughton, WI
January 28, 2011
Closed by Wisconsin Department of Financial Institutions and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with McFarland State Bank, McFarland, Wisconsin, to assume all of the deposits of Evergreen State Bank.
$246.5 million
$195.2 million
The First State Bank, Camargo, OK
January 28, 2011
Closed by Oklahoma State Banking Department and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Bank 7, Oklahoma City, Oklahoma, to assume all of the deposits of The First State Bank.
$43.5 million
$40.3 million
United Western Bank, Denver, CO
January 21, 2011
Closed by Office of Thrift Supervision and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with First-Citizens Bank & Trust Company, Raleigh, North Carolina, to assume all of the deposits of United Western Bank.
$2.05 billion
$1.65 billion
The Bank of Asheville, Asheville, NC
January 21, 2011
Closed by North Carolina Office of Commissioner of Banks and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with First Bank, Troy, North Carolina, to assume all of the deposits of The Bank of Asheville.
$195.1 million
$188.3 million
CommunitySouth Bank and Trust, Easley, SC
January 21, 2011
Closed by South Carolina State Board of Financial Institutions and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement CertusBank, National Association, Easley, South Carolina, a newly-chartered bank subsidiary of Blue Ridge Holdings, Inc., Charlotte, North Carolina, to assume all of the deposits of CommunitySouth Bank and Trust.
$440.6 million
$402.4 million
Enterprise Banking Company, McDonough, GA
January 21, 2011
Closed by Georgia Department of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC created the Deposit Insurance National Bank of McDonough (DINB), which will remain open until January 28, 2011, to allow depositors access to their insured deposits and time to open accounts at other insured institutions.
$100.9 million
$95.5 million
Oglethorpe Bank, Brunswick, GA
January 14, 2011
Closed by Georgia Department of Banking and Finance and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Bank of the Ozarks, Little Rock, Arkansas
$230.6 million
$212.7 million
Legacy Bank, Scottsdale, AZ
January 7, 2011
Closed by Arizona Department of Financial Institutions and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Enterprise Bank & Trust, St. Louis, Missouri
$150.6 million
$125.9 million
First Commercial Bank of Florida, Orlando, FL
January 7, 2011
Closed by Florida Office of Financial Regulation and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with First Southern Bank, Boca Raton, Florida
$598.5 million
$529.6 million

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