Bank Failure
Bank of Jackson County
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Closed October 30, 2013 · Graceville, FL · FDIC Cert #14794.
- Closing date
- October 30, 2013
- Headquarters
- Graceville, FL
- FDIC Certificate
- 14794
- Total assets at closing
- $24.7M
- Total deposits at closing
- $24.6M
- Estimated loss to the insurance fund
- $5.8M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Federal Bank of Florida
Context
On October 30, 2013, regulators closed Bank of Jackson County, headquartered in Graceville, FL. At closing, the institution held approximately $24.7M in assets and $24.6M in deposits. The FDIC record names First Federal Bank of Florida as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $5.8M.
By assets at closing this is the 2185th largest of the 3,526 bank failures in the FDIC record, and the 22nd of 24 in 2013. 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 Jackson County fail?
Bank of Jackson County was closed by regulators on October 30, 2013.
Who acquired Bank of Jackson County?
The FDIC record names First Federal Bank of Florida as the acquiring institution in the resolution of Bank of Jackson County.
How big was Bank of Jackson County when it failed?
Bank of Jackson County had approximately $24.7M in total assets and $24.6M in deposits at the time of failure.
Other failures in 2013
| Date | Bank | Assets |
|---|---|---|
| Dec 13, 2013 | Texas Community Bank, N.A. | $159.3M |
| Sep 13, 2013 | First National Bank | $3.09B |
| Sep 13, 2013 | The Community's Bank | $26.4M |
| Aug 23, 2013 | Community South Bank | $386.9M |
| Aug 23, 2013 | Sunrise Bank of Arizona | $202.2M |
| Aug 9, 2013 | Bank of Wausau | $43.6M |
| Aug 2, 2013 | First Community Bank of Southwest Florida | $247.3M |
| Jun 7, 2013 | Mountain National Bank | $437.3M |
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