Bank Failure
BANK OF EPHRAIM
Closed June 25, 2004 · EPHRAIM, UT · FDIC Cert #1249.
- Closing date
- June 25, 2004
- Headquarters
- EPHRAIM, UT
- FDIC Certificate
- 1249
- Total assets at closing
- $56,774,000
- Total deposits at closing
- $52,329,000
- Estimated loss to DIF
- $2,998,000
- Resolution type
- other
- Acquirer
- FAR WEST BANK (FDIC Cert #4665)
Context
On June 25, 2004, regulators closed BANK OF EPHRAIM, headquartered in EPHRAIM, UT. At closing, the institution held approximately $56,774,000 in assets and $52,329,000 in deposits. The FDIC arranged a resolution under which FAR WEST BANK acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $2,998,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 2004
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 2004-03-19 | RELIANCE BANK | WHITE PLAINS, NY | $28,637,000 |
| 2004-03-12 | GUARANTY NATIONAL BANK | TALLAHASSEE, FL | $71,280,000 |
| 2004-02-14 | DOLLAR SAVINGS BANK | NEWARK, NJ | $13,408,000 |
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