Bank Failure
Bay National Bank
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Closed July 9, 2010 · Baltimore, MD · FDIC Cert #35462.
- Closing date
- July 9, 2010
- Headquarters
- Baltimore, MD
- FDIC Certificate
- 35462
- Total assets at closing
- $217.7M
- Total deposits at closing
- $212.6M
- Estimated loss to the insurance fund
- $21.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Bay Bank, FSB
Context
On July 9, 2010, regulators closed Bay National Bank, headquartered in Baltimore, MD. At closing, the institution held approximately $217.7M in assets and $212.6M in deposits. The FDIC record names Bay Bank, FSB as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $21.1M.
By assets at closing this is the 726th largest of the 3,526 bank failures in the FDIC record, and the 88th 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 Bay National Bank fail?
Bay National Bank was closed by regulators on July 9, 2010.
Who acquired Bay National Bank?
The FDIC record names Bay Bank, FSB as the acquiring institution in the resolution of Bay National Bank.
How big was Bay National Bank when it failed?
Bay National Bank had approximately $217.7M in total assets and $212.6M 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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