FDIC Failed Banks - 2010 Bank FailuresJuly 23, 2010 – Seven new bank failures bring the total for the year to 103. U.S. bank failures this year have surpassed the 100 milestone as Federal and State regulators on Friday closed another 7 banks, located in Oregon, Florida, Georgia, South Carolina, Kansas, Minnesota and Nevada, due to inadequate capital and mounting loan losses. Assets of these seven failed banks totaled $2.16 billion. These seven bank failures cost the FDIC an estimated $431.0 million. Earlier in the month, regulators had closed 10 banks with assets totaling $3.16 billion. The pace of bank failure this year is well ahead of 2009, which saw a total of 140 banks closed amid the recession and mounting loan defaults.2010-Q2 Bank Failure. In June, there were eight bank failures at a cost to the FDIC of $837.5 million, the largest being TierOne Bank located in Nebraska with assets totaling $2.8 billion and which cost the FDIC $297.8 million. In May, the number of bank failures totaled 14, with assets totaling $6.25 billion and at a cost to the FDIC of $838.4 million, and in April when there were 23 bank failures, with assets totaling $39.0 billion and at a cost to the FDIC of $9.42 billion. These bank failure bring the total for the quarter to 45 failed banks and at a cost to the FDIC of $11.1 billion.
2007 - 2010 Bank Failure. Since the start of the financial crisis in 2007, there have been 271 bank failures with assets totaling a staggering $625.3 billion, deposits totaling $439.0 billion, and at a cost to the FDIC’s Deposit Insurance Fund (DIF) of $71.0 billion.In 2009, there were 140 bank failures with assets totaling $170.9 billion and at an estimated cost to the FDIC's DIF of $36.43 billion, the five largest bank failures being BankUnited with $12.8 billion in assets, Colonial Bank with $25 billion in assets, Guaranty Bank with $13 billion in assets, United Commercial Bank with $11.2 billion in assets, and AmTrust Bank with $12 billion in assets. In 2008, there were 25 bank failures with assets totaling $373.6 billion. Washington Mutual Bank, which failed February 2008 and with assets totaling $307 billion, is by far the largest US bank failure in recent history. Below is a list of FDIC bank failures, compiled from the FDIC's failed bank data. 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 rose to 775 at the end of the first quarter 2010.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. Current Bank cd rates. Compare mortgage rates. Credit card offers. |
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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 |
|---|---|---|---|---|
| Home Valley Bank, Cave Junction, OR |
July 23, 2010 |
Closed by Oregon Department of Consumer and Business Services, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with South Valley Bank & Trust, Klamath Falls, Oregon |
$251.8 million |
$229.6 million |
| SouthwestUSA Bank, Las Vegas, NV |
July 23, 2010 |
Closed by Nevada Financial Institutions Division, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with Plaza Bank, Irvine, California |
$214.0 million |
$186.7 million |
| Community Security Bank, New Prague, MN |
July 23, 2010 |
Closed by Minnesota Department of Commerce, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with Roundbank, Waseca, Minnesota |
$108.0 million |
$99.7 million |
| Thunder Bank, Sylvan Grove, KS |
July 23, 2010 |
Closed by Kansas Office of the State Bank Commissioner, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with The Bennington State Bank, Salina, Kansas |
$32.6 million |
$28.5 million |
| Williamsburg First National Bank, Kingstree, SC |
July 23, 2010 |
Closed by Office of the Comptroller of the Currency, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with First Citizens Bank and Trust Company, Inc., Columbia, South Carolina |
$139.3 million |
$134.3 million |
| Crescent Bank and Trust Company, Jasper, GA |
July 23, 2010 |
Closed by Georgia Department of Banking & Finance, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with Renasant Bank, Tupelo, Mississippi |
$1.01 billion |
$965.7 million |
| Sterling Bank, Lantana, FL |
July 23, 2010 |
Closed by Florida Office of Financial Regulation, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with IBERIABANK, Lafayette, Louisiana |
$407.9 million |
$372.4 million |
| MainStreet Savings Bank, FSB, Hastings, MI |
July 16, 2010 |
Closed by Office of Thrift Supervision, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with Commercial Bank, Alma, Michigan |
$97.4 million |
$63.7 million |
| Olde Cypress Community Bank, Clewiston, FL |
July 16, 2010 |
Closed by Office of Thrift Supervision, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with CenterState Bank of Florida, National Association, Winter Haven, Florida |
$168.7 million |
$162.4 million |
| Turnberry Bank, Aventura, FL |
July 16, 2010 |
Closed by Office of the Office of Thrift Supervision, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with NAFH National Bank, Miami, Florida, a newly-chartered bank subsidiary of North American Financial Holdings, Inc., Charlotte, North Carolina |
$263.9 million |
$196.9 million |
| Metro Bank of Dade County, Miami, FL |
July 16, 2010 |
Closed by Office of the Florida Office of Financial Regulation, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with NAFH National Bank, Miami, Florida, a newly-chartered bank subsidiary of North American Financial Holdings, Inc., Charlotte, North Carolina |
$442.3 million |
$391.3 million |
| First National Bank of the South, Spartanburg, SC |
July 16, 2010 |
Closed by Office of the Comptroller of the Currency, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with NAFH National Bank, Miami, Florida, a newly-chartered bank subsidiary of North American Financial Holdings, Inc., Charlotte, North Carolina |
$682.0 million |
$610.1 million |
| Woodlands Bank, Bluffton, SC |
July 16, 2010 |
Closed by Office of Thrift Supervision, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with Bank of the Ozarks, Little Rock, Arkansas |
$376.2 million |
$355.3 million |
| Home National Bank, Blackwell, OK |
July 9, 2010 |
Closed by Office of the Comptroller of the Currency, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with RCB Bank, Claremore, Oklahoma |
$644.5 million |
$560.7 million |
| USA Bank, Port Chester, NY |
July 9, 2010 |
Closed by New York State Banking Department, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with New Century Bank (doing business as Customer's 1st Bank), Phoenixville, Pennsylvania |
$193.3 million |
$189.9 million |
| Ideal Federal Savings Bank, Baltimore, MD |
July 9, 2010 |
Closed by Office of Thrift Supervision, and FDIC appointed Receiver of this failed bank. Unable to find another financial institution to take over the banking operations, FDIC approved the payout of the insured deposits of Ideal Federal Savings Bank |
$6.3 million |
$5.8 million |
| Bay National Bank, Baltimore, MD |
July 9, 2010 |
Closed by Office of the Comptroller of the Currency, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with Bay Bank, FSB, Lutherville, Maryland |
$282.2 million |
$276.1 million |
| High Desert State Bank, Albuquerque, NM |
June 25, 2010 |
Closed by New Mexico Financial Institutions Division, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with First American Bank, Artesia, New Mexico |
$80.3 million |
$81.0 million |
| First National Bank, Savannah, GA |
June 25, 2010 |
Closed by Comptroller of the Currency, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with The Savannah Bank, National Association, Savannah, Georgia |
$252.5 million |
$231.9 million |
| Peninsula Bank, Englewood, FL |
June 25, 2010 |
Closed by Florida Division of Financial Institutions, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with Premier American Bank, Miami, Florida |
$644.3 million |
$580.1 million |
| Nevada Security Bank, Reno, Nevada |
June 18, 2010 |
Closed by Nevada Financial Institutions Division, and FDIC appointed Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with Umpqua Bank, Roseburg, Oregon |
$480.3 million |
$479.8 million |
| Washington First International Bank, Seattle, WA |
June 11, 2010 |
Closed by Washington Department of Financial Institutions, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC the FDIC entered into a purchase and assumption agreement with East West Bank, Pasadena, California |
$520.9 million |
$441.1 million |
| TierOne Bank, Lincoln, NE |
June 4, 2010 |
Closed by Office of Thrift Supervision, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Great Western Bank, Sioux Falls, South Dakota |
$2.8 billion |
$2.2 billion |
| Arcola Homestead Savings Bank, Arcola, IL |
June 4, 2010 |
Closed by Illinois Department of Financial Professional Regulation – Division of Banking, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC approved the payout of the insured deposits of Arcola Homestead Savings Bank |
$17.0 million |
$18.1 million |
| First National Bank, Rosedale MS |
June 4, 2010 |
Closed by Office of the Comptroller of the Currency, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with The Jefferson Bank, Fayette, Mississippi |
$60.4 million |
$63.5 million |
| Sun West Bank, Las Vegas, NV |
May 28, 2010 |
Closed by Nevada Financial Institutions Division, and FDIC named 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 |
$360.7 million |
$353.9 million |
| Granite Community Bank, NA, Granite Bay, CA |
May 28, 2010 |
Closed by Office of the Comptroller of the Currency, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Tri Counties Bank, Chico, California |
$102.9 million |
$94.2 million |
| Bank of Florida - Tampa, Tampa, FL |
May 28, 2010 |
Closed by Florida Office of Financial Regulation, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with EverBank, Jacksonville, Florida to acquire the operations of all 3 Florida-based institutions. |
$245.2 million |
$224.0 million |
| Bank of Florida - Southwest, Naples, FL |
May 28, 2010 |
Closed by Florida Office of Financial Regulation, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with EverBank, Jacksonville, Florida to acquire the operations of all 3 Florida-based institutions. |
$640.9 million |
$559.9 million |
| Bank of Florida - Southeast, Fort Lauderdale, FL |
May 28, 2010 |
Closed by Florida Office of Financial Regulation, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with EverBank, Jacksonville, Florida to acquire the operations of all 3 Florida-based institutions. |
$595.3 million |
$531.7 million |
| Pinehurst Bank, Saint Paul, MN |
May 21, 2010 |
Closed by Minnesota Department of Commerce, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Coulee Bank, La Crosse, Wisconsin |
$61.2 million |
$58.3 million |
| Midwest Bank and Trust Company, Elmwood Park, IL |
May 14, 2010 |
Closed by Illinois Department of Financial Professional Regulation – Division of Banking, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Firstmerit Bank, National Association, Akron, Ohio |
$3.17 billion |
$2.42 billion |
| Southwest Community Bank, Springfield, MO |
May 14, 2010 |
Closed by Missouri Division of Finance, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Simmons First National Bank, Pine Bluff, Arkansas |
$96.6 million |
$102.5 million |
| New Liberty Bank, Plymouth, MI |
May 14, 2010 |
Closed by Michigan Office of Financial and Insurance Regulation, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Bank of Ann Arbor, Ann Arbor, Michigan |
$109.1 million |
$101.8 million |
| Satilla Community Bank, Saint Marys, GA |
May 14, 2010 |
Closed by Georgia Department of Banking and Finance, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Ameris Bank, Moultrie, Georgia |
$135.7 million |
$134.0 million |
| 1st Pacific Bank of California, San Diego, CA |
May 7, 2010 |
Closed by California Department of Financial Institutions, and FDIC named 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 |
$335.8 million |
$291.2 million |
| Towne Bank of Arizona, Mesa, AZ |
May 7, 2010 |
Closed by Arizona Department of Financial Institutions, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Commerce Bank of Arizona, Tucson, Arizona |
$120.2 million |
$113.2 million |
| Access Bank, Champlin, MN |
May 7, 2010 |
Closed by Minnesota Department of Commerce, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with PrinsBank, Prinsburg, Minnesota |
$32.0 million |
$32..0 million |
| The Bank of Bonifay, Bonifay, FL |
May 7, 2010 |
Closed by Florida Office of Financial Regulation, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with First Federal Bank of Florida, Lake City, Florida |
$242.9 million |
$230.2 million |
| Frontier Bank, Everett, WA |
April 30, 2010 |
Closed by Washington Department of Financial Institutions, and FDIC named Receiver of this failed bank. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Union Bank, National Association, San Francisco, California |
$3.50 billion |
$3.13 billion |
| BC National Banks, Butler, MO |
April 30, 2010 |
Closed by Office of the Comptroller of the Currency, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Community First Bank, Butler, Missouri |
$67.2 million |
$54.9 million |
| Champion Bank, Creve Coeur, MO |
April 30, 2010 |
Closed by Missouri Division of Finance, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with BankLiberty, Liberty, Missouri |
$187.3 million |
$153.8 million |
| CF Bancorp, Port Huron, MI |
April 30, 2010 |
Closed by Michigan Office of Financial and Insurance Regulation, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with First Michigan Bank, Troy, Michigan |
$1.65 billion |
$1.43 billion |
| Westernbank Puerto Rico, Mayaguez, PR |
April 30, 2010 |
Closed by Office of the Commissioner of Financial Institutions of the Commonwealth of Puerto Rico, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Banco Popular de Puerto Rico, San Juan, Puerto Rico |
$11.94 billion |
$8.62 billion |
| R-G Premier Bank of Puerto Rico, Hato Rey, PR |
April 30, 2010 |
Closed by Office of the Commissioner of Financial Institutions of the Commonwealth of Puerto Rico, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Scotiabank de Puerto Rico, San Juan, Puerto Rico |
$5.92 billion |
$4.25 billion |
| Eurobank, San Juan, PR |
April 30, 2010 |
Closed by Office of the Commissioner of Financial Institutions of the Commonwealth of Puerto Rico, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Oriental Bank and Trust, San Juan, Puerto Rico |
$2.56 billion |
$1.97 billion |
| Wheatland Bank, Naperville, IL |
April 23, 2010 |
Closed by Illinois Department of Financial and Professional Regulation – Division of Banking, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Wheaton Bank & Trust, Wheaton, Illinois |
$437.2 million |
$438.5 million |
| Peotone Bank and Trust Company, Peotone, IL |
April 23, 2010 |
Closed by Illinois Department of Financial and Professional Regulation – Division of Banking, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with First Midwest Bank, Itasca, Illinois |
$130.2 million |
$127.0 million |
| Lincoln Park Savings Bank, Chicago, IL |
April 23, 2010 |
Closed by Illinois Department of Financial and Professional Regulation – Division of Banking, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Northbrook Bank and Trust Company, Northbrook, Illinois |
$199.9 million |
$171.5 million |
| New Century Bank, Chicago, IL |
April 23, 2010 |
Closed by Illinois Department of Financial and Professional Regulation — Division of Banking, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with MB Financial Bank, National Association, Chicago, Illinois |
$485.6 million |
$492.0 million |
| Citizens Bank and Trust Company of Chicago, Chicago, IL |
April 23, 2010 |
Closed by Illinois Department of Financial and Professional Regulation — Division of Banking, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Republic Bank of Chicago, Oak Brook, Illinois |
$77.3 million |
$74.5 million |
| Broadway Bank, Chicago, IL |
April 23, 2010 |
Closed by Illinois Department of Financial and Professional Regulation — Division of Banking, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with MB Financial Bank, National Association, Chicago, Illinois |
$1.2 billion |
$1.1 billion |
| Amcore Bank, National Association, Rockford, IL |
April 23, 2010 |
Closed by Office of the Comptroller of the Currency, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Harris National Association, Chicago, Illinois |
$3.8 billion |
$3.4 billion |
| City Bank, Lynnwood, WA |
April 16, 2010 |
Closed by Washington Department of Financial Institutions, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Whidbey Island Bank, Coupeville, Washington |
$1.13 billion |
$1.02 billion |
| Tamalpais Bank, San Rafael, CA |
April 16, 2010 |
Closed by California Department of Financial Institutions, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Union Bank, National Association, San Francisco, California |
$628.9 million |
$487.6 million |
| Innovative Bank, Oakland, CA |
April 16, 2010 |
Closed by California Department of Financial Institutions, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Center Bank, Los Angeles, California |
$268.9 million |
$225.2 million |
| Butler Bank, Lowell, MA |
April 16, 2010 |
Closed by Massachusetts Division of Banks, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with People's United Bank, Bridgeport, Connecticut |
$268.0 million |
$233.2 million |
| Riverside National Bank of Florida, Fort Pierce, FL |
April 16, 2010 |
Closed by Office of the Comptroller of the Currency, and FDIC named Receiver. To protect insured depositors, all deposit accounts have been transferred to TD Bank, National Association, Wilmington, DE |
$3.42 billion |
$2.76 billion |
| AmericanFirst Bank, Clermont, FL |
April 16, 2010 |
Closed by Florida Office of Financial Regulation, and FDIC named Receiver. To protect insured depositors, all deposit accounts have been transferred to TD Bank, National Association, Wilmington, DE |
$90.5 million |
$81.9 million |
| First Federal Bank of North Florida, Palatka, FL |
April 16, 2010 |
Closed by Office of Thrift Supervision, and FDIC named Receiver. To protect insured depositors, all deposit accounts have been transferred to TD Bank, National Association, Wilmington, DE |
$393.3 million |
$324.2 million |
| Lakeside Community Bank, Sterling Heights, MI |
April 16, 2010 |
Closed by Michigan Office of Financial and Insurance Regulation, and FDIC named Receiver. FDIC was unable to find another financial institution to take over the banking operations, and approved the payout of the insured deposits of Lakeside. |
$53.0 million |
$52.3 million |
| Beach First National Bank, Myrtle Beach, SC |
April 9, 2010 |
Closed by Office of the Comptroller of the Currency, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Bank of North Carolina, Thomasville, North Carolina |
$585.1 million |
$516.0 million |
| Desert Hills Bank, Phoenix, AZ |
March 26, 2010 |
Closed by Arizona Department of Financial Institutions, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with New York Community Bank, Westbury, New York |
$496.6 million |
$426.5 million |
| Unity National Bank, Cartersville, GA |
March 26, 2010 |
Closed by Office of the Comptroller of the Currency, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Bank of the Ozarks, Little Rock, Arkansas |
$292.2 million |
$264.3 million |
| Key West Bank, Key West, FL |
March 26, 2010 |
Closed by Office of Thrift Supervision, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Centennial Bank, Conway, Arkansas |
$88.0 million |
$66.7 million |
| McIntosh Commercial Bank, Carrollton, GA |
March 26, 2010 |
Closed by Georgia Department of Banking and Finance, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with CharterBank, West Point, Georgia |
$362.9 million |
$343.3 million |
| State Bank of Aurora, Aurora, MN |
March 19, 2010 |
Closed by Minnesota Department of Commerce, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Northern State Bank, Ashland, Wisconsin |
$28.2 million |
$27.8 million |
| First Lowndes Bank, Fort Deposit, AL |
March 19, 2010 |
Closed by Alabama Banking Department, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with First Citizens Bank, Luverne, Alabama |
$137.2 million |
$131.1 million |
| Bank of Hiawassee, Hiawassee, GA |
March 19, 2010 |
Closed by Georgia Department of Banking and Finance, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Citizens South Bank, Gastonia, North Carolina |
$377.8 million |
$339.6 million |
| Appalachian Community Bank, Ellijay, GA |
March 19, 2010 |
Closed by Georgia Department of Banking and Finance, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Community & Southern Bank, Carrollton, Georgia |
$1.01 billion |
$917.6 million |
| Advanta Bank Corp., Draper, UT |
March 19, 2010 |
Closed by Utah Department of Financial Institutions, and FDIC named Receiver. FDIC was unable to find another financial institution to take over the banking operations, and approved the payout of the insured deposits of Advanta Bank Corp. |
$1.6 billion |
$1.5 billion |
| Century Security Bank, Duluth, GA |
March 19, 2010 |
Closed by Georgia Department of Banking and Finance, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Bank of Upson, Thomaston, Georgia |
$96.5 million |
$94.0 million |
| American National Bank, Parma, OH |
March 19, 2010 |
Closed by Office of the Comptroller of the Currency, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with The National Bank and Trust Company, Wilmington, Ohio |
$70.3 million |
$66.8 million |
| Statewide Bank, Covington, LA |
March 12, 2010 |
Closed by Louisiana Office of Financial Institutions, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Home Bank, Lafayette, Louisiana |
$243.2 million |
$208.8 million |
| Old Southern Bank, Orlando, FL |
March 12, 2010 |
Closed by Florida Office of Financial Regulation, and FDIC named Receiver. To protect insured depositors, the FDIC entered into a purchase and assumption agreement with Centennial Bank, Conway, Arkansas |
$315.6 million |
$319.7 million |
| The Park Avenue Bank, New York, NY |
March 12, 2010 |
Closed by New York State Banking Department, and FDIC named Receiver. To protect insured depositors, FDIC entered into a purchase and assumption agreement with Valley National Bank, Wayne, New Jersey |
$520.1 million |
$494.5 million |
| LibertyPointe Bank, New York, NY |
March 11, 2010 |
Closed by New York State Banking Department, and FDIC named Receiver. To protect insured depositors, FDIC entered into a purchase and assumption agreement with Valley National Bank, Wayne, New Jersey |
$209.7 million |
$209.5 million |
| Centennial Bank, Ogden, UT |
March 5, 2010 |
Closed by Utah Department of Financial Institutions, and FDIC named Receiver. To protect insured depositors, FDIC entered into a purchase and assumption agreement with Zions First National Bank, Salt Lake City, Utah |
$215.2 million |
$205.1 million |
| Waterfield Bank, Germantown, MD |
March 5, 2010 |
Closed by Office of Thrift Supervision, and FDIC named Receiver. To protect insured depositors, the FDIC created Waterfield Bank, FA—a new depository institution—to take over the operations of Waterfield Bank. The new institution will remain open until April 5, 2010 |
$155.6 million |
$156.4 million |
| Bank of Illinois, Normal, IL |
March 5, 2010 |
Closed by Illinois Department of Financial Professional Regulation – Division of Banking, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with Heartland Bank and Trust Company, Bloomington, Illinois |
$211.7 million |
$198.5 million |
| Sun American Bank, Boca Raton, FL |
March 5, 2010 |
Closed by Florida Office of Financial Regulation, Financial Institutions Division, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with First-Citizens Bank & Trust Company, Raleigh, North Carolina |
$535.7 million |
$443.5 million |
| Rainier Pacific Bank, Tacoma, WA |
February 26, 2010 |
Closed by Washington Department of Financial Institutions, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with Umpqua Bank, Roseburg, Oregon |
$717.8 million |
$446.2 million |
| Carson River Community Bank, Carson City, NV |
February 26, 2010 |
Closed by Nevada Department of Business and Industry, Financial Institutions Division, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with Heritage Bank of Nevada, Reno, Nevada |
$51.1 million |
$50.0 million |
| La Jolla Bank, FSB, La Jolla, CA |
February 19, 2010 |
Closed by Office of Thrift Supervision, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with OneWest Bank, FSB, Pasadena, California |
$3.6 billion |
$2.8 billion |
| George Washington Savings Bank, Orland Park, IL |
February 19, 2010 |
Closed by Illinois Department of Financial Professional Regulation – Division of Banking, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with FirstMerit Bank, National Association, Akron, Ohio |
$412.8 million |
$397.0 million |
| The La Coste National Bank, La Coste, TX |
February 19, 2010 |
Closed by Office of the Comptroller of the Currency, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with Community National Bank, Hondo, Texas |
$53.9 million |
$49.3 million |
| Marco Community Bank, Marco Island, FL |
February 19, 2010 |
Closed by Florida Office of Financial Regulation, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with Mutual of Omaha Bank, Omaha, Nebraska |
$119.6 million |
$117.1 million |
| 1st American State Bank of Minnesota, Hancock, MN |
February 5, 2010 |
Closed by Minnesota Department of Commerce, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with Community Development Bank, FSB, Ogema, Minnesota |
$18.2 million |
$16.3 million |
| American Marine Bank, Bainbridge Island, WA |
January 29, 2010 |
Closed by Washington Department of Financial Institutions, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with Columbia State Bank, Tacoma, Washington |
$373.2 million |
$308.5 million |
| First Regional Bank, Los Angeles, CA |
January 29, 2010 |
Closed by California Department of Financial Institutions, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with First-Citizens Bank & Trust Company, Raleigh, North Carolina |
$2.18 billion |
$1.87 billion |
| Community Bank and Trust, Cornelia, GA |
January 29, 2010 |
Closed by Georgia Department of Banking and Finance, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with SCBT, N.A., Orangeburg, South Carolina |
$1.21 billion |
$1.11 billion |
| Marshall Bank, N.A., Hallock MN |
January 29, 2010 |
Closed by Office of the Comptroller of the Currency, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with United Valley Bank, Cavalier, North Dakota |
$59.9 million |
$54.7 million |
| Florida Community Bank, Immokalee, FL |
January 29, 2010 |
Closed by Florida Office of Financial Regulation, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with Premier American Bank, National Association, Miami, Florida |
$875.5 million |
$795.5 million |
| First National Bank of Georgia, Carrollton, GA |
January 29, 2010 |
Closed by Office of the Comptroller of the Currency, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with Community & Southern Bank, Carrollton, Georgia, a newly chartered institution |
$832.6 million |
$757.9 million |
| Columbia River Bank, The Dalles, OR |
January 22, 2010 |
Closed by Oregon Division of Finance and Corporate Securities, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with Columbia State Bank, Tacoma, Washington |
$1.1 billion |
$1.0 billion |
| Evergreen Bank, Seattle, WA |
January 22, 2010 |
Closed by Washington Department of Financial Institutions, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with Umpqua Bank, Roseburg, Oregon |
$488.5 million |
$439.4 million |
| Charter Bank, Santa Fe, NM |
January 22, 2010 |
Closed by Office of Thrift Supervision, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with Charter Bank, Albuquerque, New Mexico, a newly-chartered federal savings bank and a subsidiary of Beal Financial Corporation, Plano, Texas |
$1.2 billion |
$851.5 million |
| Bank of Leeton, Leeton, MO |
January 22, 2010 |
Closed by Missouri Division of Finance, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with Sunflower Bank, National Association, Salina, Kansas |
$20.1 million |
$20.4 million |
| Premier American Bank, Miami, FL |
January 22, 2010 |
Closed by Florida Office of Financial Regulation, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with Premier American Bank N.A., a newly-chartered national institution, to assume all of the deposits of Premier American Bank. Premier American Bank, N.A. is a subsidiary of Bond Street Holdings, LLC, Naples, Florida. |
$350.9 million |
$326.3 million |
| Barnes Banking Company, Kaysville, UT |
January 15, 2010 |
Closed by Utah Department of Financial Institutions, and FDIC named Receiver. FDIC created the Deposit Insurance National Bank of Kaysville (DINB), which will remain open until February 12, 2010 |
$827.8 million |
$786.5 million |
| St. Stephen State Bank, St. Stephen, MN |
January 15, 2010 |
Closed by Minnesota Department of Commerce, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with First State Bank of St. Joseph, St. Joseph, Minnesota |
$24.7 million |
$23.4 million |
| Town Community Bank & Trust, Antioch, IL |
January 15, 2010 |
Closed by Illinois Department of Financial Professional Regulation, Division of Banking, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with First American Bank, Elk Grove Village, Illinois |
$69.6 million |
$67.4 million |
| Horizon Bank, Bellingham, WA |
January 08, 2010 |
Closed by Washington State Department of Financial Institutions, and FDIC named Receiver. FDIC entered into a purchase and assumption agreement with Washington Federal Savings and Loan Association, Seattle, Washington |
$1.3 billion |
$1.1 billion |