Bank Failure
Bank of Florida - Southwest
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Closed May 28, 2010 · Naples, FL · FDIC Cert #35106.
- Closing date
- May 28, 2010
- Headquarters
- Naples, FL
- FDIC Certificate
- 35106
- Total assets at closing
- $640.9M
- Total deposits at closing
- $559.9M
- Estimated loss to the insurance fund
- $87.6M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- EverBank
Context
On May 28, 2010, regulators closed Bank of Florida - Southwest, headquartered in Naples, FL. At closing, the institution held approximately $640.9M in assets and $559.9M in deposits. The FDIC record names EverBank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $87.6M.
By assets at closing this is the 307th largest of the 3,526 bank failures in the FDIC record, and the 32nd 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 Bank of Florida - Southwest fail?
Bank of Florida - Southwest was closed by regulators on May 28, 2010.
Who acquired Bank of Florida - Southwest?
The FDIC record names EverBank as the acquiring institution in the resolution of Bank of Florida - Southwest.
How big was Bank of Florida - Southwest when it failed?
Bank of Florida - Southwest had approximately $640.9M in total assets and $559.9M 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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