Bank Failure
Allegiance Bank of North America
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Closed November 19, 2010 · Bala Cynwyd, PA · FDIC Cert #35078.
- Closing date
- November 19, 2010
- Headquarters
- Bala Cynwyd, PA
- FDIC Certificate
- 35078
- Total assets at closing
- $106.6M
- Total deposits at closing
- $92.0M
- Estimated loss to the insurance fund
- $12.7M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Vist Bank
Context
On November 19, 2010, regulators closed Allegiance Bank of North America, headquartered in Bala Cynwyd, PA. At closing, the institution held approximately $106.6M in assets and $92.0M in deposits. The FDIC record names Vist Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $12.7M.
By assets at closing this is the 1159th largest of the 3,526 bank failures in the FDIC record, and the 117th 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 Allegiance Bank of North America fail?
Allegiance Bank of North America was closed by regulators on November 19, 2010.
Who acquired Allegiance Bank of North America?
The FDIC record names Vist Bank as the acquiring institution in the resolution of Allegiance Bank of North America.
How big was Allegiance Bank of North America when it failed?
Allegiance Bank of North America had approximately $106.6M in total assets and $92.0M 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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