Bank Failure
Canyon National Bank
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Closed February 11, 2011 · Palm Springs, CA · FDIC Cert #34692.
- Closing date
- February 11, 2011
- Headquarters
- Palm Springs, CA
- FDIC Certificate
- 34692
- Total assets at closing
- $210.9M
- Total deposits at closing
- $205.3M
- Estimated loss to the insurance fund
- $15.6M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Pacific Premier Bank
Context
On February 11, 2011, regulators closed Canyon National Bank, headquartered in Palm Springs, CA. At closing, the institution held approximately $210.9M in assets and $205.3M in deposits. The FDIC record names Pacific Premier Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $15.6M.
By assets at closing this is the 747th largest of the 3,526 bank failures in the FDIC record, and the 42nd of 92 in 2011. 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 Canyon National Bank fail?
Canyon National Bank was closed by regulators on February 11, 2011.
Who acquired Canyon National Bank?
The FDIC record names Pacific Premier Bank as the acquiring institution in the resolution of Canyon National Bank.
How big was Canyon National Bank when it failed?
Canyon National Bank had approximately $210.9M in total assets and $205.3M in deposits at the time of failure.
Other failures in 2011
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 2011 | Western National Bank | $162.9M |
| Dec 16, 2011 | Premier Community Bank of the Emerald Coast | $126.0M |
| Nov 18, 2011 | Central Progressive Bank | $383.1M |
| Nov 18, 2011 | Polk County Bank | $91.6M |
| Nov 10, 2011 | Community Bank of Rockmart | $62.4M |
| Nov 4, 2011 | Sunfirst Bank | $198.1M |
| Nov 4, 2011 | Mid City Bank, Inc. | $106.1M |
| Oct 28, 2011 | All American Bank | $34.8M |
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