Bank Failure
Bestbank
BankRegReports is independent of Bestbank and never asks for online banking logins or passwords.
Closed July 23, 1998 · Boulder, CO · FDIC Cert #91189.
- Closing date
- July 23, 1998
- Headquarters
- Boulder, CO
- FDIC Certificate
- 91189
- Total assets at closing
- $233.2M
- Total deposits at closing
- $206.3M
- Estimated loss to the insurance fund
- $218.6M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- The Pueblo Bank and Trust C
Context
On July 23, 1998, regulators closed Bestbank, headquartered in Boulder, CO. At closing, the institution held approximately $233.2M in assets and $206.3M in deposits. The FDIC record names The Pueblo Bank and Trust C as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $218.6M.
By assets at closing this is the 678th largest of the 3,526 bank failures in the FDIC record, and the 1st of 3 in 1998. It falls in the period the record labels Consolidation Calm (1996-2007), a period with 50 failures peaking at 11 in 2002.
Riegle-Neal interstate-banking era. Industry consolidated rapidly via merger; failure counts dropped to single digits per year.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Bestbank fail?
Bestbank was closed by regulators on July 23, 1998.
Who acquired Bestbank?
The FDIC record names The Pueblo Bank and Trust C as the acquiring institution in the resolution of Bestbank.
How big was Bestbank when it failed?
Bestbank had approximately $233.2M in total assets and $206.3M in deposits at the time of failure.
Other failures in 1998
Explore: all failures · CO bank events · 1998 events · events hub