Bank Failure
Advanta Bank Corp.
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Closed March 19, 2010 · Draper, UT · FDIC Cert #33535.
- Closing date
- March 19, 2010
- Headquarters
- Draper, UT
- FDIC Certificate
- 33535
- Total assets at closing
- $1.53B
- Total deposits at closing
- $1.52B
- Estimated loss to the insurance fund
- $521.5M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
Context
On March 19, 2010, regulators closed Advanta Bank Corp., headquartered in Draper, UT. At closing, the institution held approximately $1.53B in assets and $1.52B in deposits. The FDIC record does not name an acquiring institution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $521.5M.
By assets at closing this is the 150th largest of the 3,526 bank failures in the FDIC record, and the 14th of 157 in 2010. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Advanta Bank Corp. fail?
Advanta Bank Corp. was closed by regulators on March 19, 2010.
How big was Advanta Bank Corp. when it failed?
Advanta Bank Corp. had approximately $1.53B in total assets and $1.52B in deposits at the time of failure.
Other failures in 2010
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2010 | The Bank of Miami | $448.1M |
| Dec 17, 2010 | Chestatee State Bank | $244.4M |
| Dec 17, 2010 | United Americas Bank | $242.3M |
| Dec 17, 2010 | First Southern Bank | $191.8M |
| Dec 17, 2010 | Appalacian Community Bank, F.S.B. | $68.2M |
| Dec 17, 2010 | Community National Bank | $31.6M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Dec 10, 2010 | Earthstar Bank | $112.6M |
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