Banks Acquiring Failed Banks

Enter Bank Name :   Search
     
ALL    2009 Banks    2008 Banks    Big Banks    Medium Banks    Small Banks
     

Banks failed in 2010


# 27

Failed Bank : LibertyPointe Bank - New York, New York
Date Closed : March 11, 2010
Assets : $209.7 million
Deposits : $209.5 million
Acquiring Bank : Valley National Bank - Wayne, New Jersey
Assets Purchased : $209.7 million
Deposits Purchased : $209.5 million
Premium paid for acquiring deposits : 0.15 percent
Loss Sharing Agreement with FDIC for assets : $181.5 million
Cost to the Deposit Insurance Fund : $24.8 million
Notes Valley National Bank will pay the FDIC a premium of 0.15 percent to assume all of the deposits of LibertyPointe Bank. In addition to assuming all of the deposits, Valley National Bank agreed to purchase essentially all of the failed bank's assets.

# 26

Failed Bank : Centennial Bank - Ogden, Utah
Date Closed : March 05, 2010
Assets : $215.2 million
Deposits : $205.1 million
Acquiring Bank : - - -
Assets Purchased : -
Deposits Purchased : -
Premium paid for acquiring deposits : -
Loss Sharing Agreement with FDIC for assets : -
Cost to the Deposit Insurance Fund : $96.3 million
Notes The FDIC was unable to find another financial institution to take over the banking operations of Centennial Bank. The FDIC entered into an agreement with Zions First National Bank, Salt Lake City, Utah, to accept the failed bank's direct deposits from the federal government, such as Social Security and Veterans' payments.

# 25

Failed Bank : Waterfield Bank - Germantown, Maryland
Date Closed : March 05, 2010
Assets : $155.6 million
Deposits : $156.4 million
Acquiring Bank : Waterfield Bank, FA (FDIC) - -
Assets Purchased : -
Deposits Purchased : -
Premium paid for acquiring deposits : -
Loss Sharing Agreement with FDIC for assets : -
Cost to the Deposit Insurance Fund : $51.0 million
Notes FDIC created Waterfield Bank, FA?a new depository institution chartered by the OTS and insured by the FDIC?to take over the operations of Waterfield Bank. The new institution will remain open until April 5, 2010, to allow depositors access to their insured funds and time to move accounts to other insured institutions.

# 24

Failed Bank : Bank of Illinois - Normal, Illinois
Date Closed : March 05, 2010
Assets : $211.7 million
Deposits : $198.5 million
Acquiring Bank : Heartland Bank and Trust Company - Bloomington, Illinois
Assets Purchased : $211.7 million
Deposits Purchased : $198.5 million
Premium paid for acquiring deposits : 3.61 percent
Loss Sharing Agreement with FDIC for assets : $166.6 million
Cost to the Deposit Insurance Fund : $53.7 million
Notes Heartland Bank and Trust Company will pay the FDIC a premium of 3.61 percent to assume all of the deposits of Bank of Illinois. In addition to assuming all of the deposits of the failed bank, Heartland Bank and Trust Company agreed to purchase essentially all of the assets.

# 23

Failed Bank : Sun American Bank - Boca Raton, Florida
Date Closed : March 05, 2010
Assets : $535.7 million
Deposits : $443.5 million
Acquiring Bank : First-Citizens Bank & Trust Company - Raleigh, North Carolina
Assets Purchased : $535.7 million
Deposits Purchased : $443.5 million
Premium paid for acquiring deposits : -
Loss Sharing Agreement with FDIC for assets : $433.0 million
Cost to the Deposit Insurance Fund : $103.8 million
Notes First-Citizens Bank & Trust Company agreed to purchase essentially all of the assets.

# 22

Failed Bank : Rainier Pacific Bank - Tacoma, Washington
Date Closed : February 26, 2010
Assets : $717.8 million
Deposits : $446.2 million
Acquiring Bank : Umpqua Bank - Roseburg, Oregon
Assets Purchased : $670.1 million
Deposits Purchased : $446.2 million
Premium paid for acquiring deposits : 1.04 percent
Loss Sharing Agreement with FDIC for assets : $578.1 million
Cost to the Deposit Insurance Fund : $95.2 million
Notes Umpqua Bank will pay the FDIC a premium of 1.04 percent to assume all of the deposits of Rainier Pacific Bank. In addition to assuming all of the deposits, Umpqua Bank agreed to purchase approximately $670.1 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.

# 21

Failed Bank : Carson River Community Bank - Carson City, Nevada
Date Closed : February 26, 2010
Assets : $51.1 million
Deposits : $50.0 million
Acquiring Bank : Heritage Bank of Nevada - Reno, Nevada
Assets Purchased : $38.0 million
Deposits Purchased : $50.0 million
Premium paid for acquiring deposits : -
Loss Sharing Agreement with FDIC for assets : $28.5 million
Cost to the Deposit Insurance Fund : $7.9 million
Notes Heritage Bank of Nevada agreed to purchase approximately $38.0 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.

# 20

Failed Bank : La Jolla Bank, FSB - La Jolla, California
Date Closed : February 19, 2010
Assets : $3.6 billion
Deposits : $2.8 billion
Acquiring Bank : OneWest Bank, FSB - Pasadena, California
Assets Purchased : $3.6 billion
Deposits Purchased : $2.8 billion
Premium paid for acquiring deposits : -
Loss Sharing Agreement with FDIC for assets : $3.31 billion
Cost to the Deposit Insurance Fund : $882.3 million
Notes OneWest Bank, FSB did not pay the FDIC a premium for the deposits of La Jolla Bank, FSB. In addition to assuming all of the deposits of the failed bank, OneWest Bank, FSB agreed to purchase essentially all of the assets.

# 19

Failed Bank : George Washington Savings Bank - Orland Park, Illinois
Date Closed : February 19, 2010
Assets : $397.0 million
Deposits : $412.8 million
Acquiring Bank : FirstMerit Bank, N.A. - Akron, Ohio
Assets Purchased : $397.0 million
Deposits Purchased : $412.8 million
Premium paid for acquiring deposits : 0.31 percent
Loss Sharing Agreement with FDIC for assets : $324.2 million
Cost to the Deposit Insurance Fund : $141.4 million
Notes FirstMerit Bank, N.A. will pay the FDIC a premium of 0.31 percent to assume all of the deposits of George Washington Savings Bank. In addition to assuming all of the deposits of the failed bank, FirstMerit Bank, N.A. agreed to purchase essentially all of the assets.

# 18

Failed Bank : The La Coste National Bank - La Coste, Texas
Date Closed : February 19, 2010
Assets : $53.9 million
Deposits : $49.3 million
Acquiring Bank : Community National Bank - Hondo, Texas
Assets Purchased : $53.9 million
Deposits Purchased : $49.3 million
Premium paid for acquiring deposits : 0.51 percent
Loss Sharing Agreement with FDIC for assets : -
Cost to the Deposit Insurance Fund : $3.7 million
Notes Community National Bank will pay the FDIC a premium of 0.51 percent to assume all of the deposits of The La Coste National Bank. In addition to assuming all of the deposits of the failed bank, Community National Bank agreed to purchase essentially all of the assets.


Displaying results 131-140 of 157 found
Results:  « Prev   61-70  71-80  81-90  91-100  101-110  111-120  121-130  131-140  141-150  151-157   Next »