Bank Failure
Central Progressive Bank
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Closed November 18, 2011 · Lacombe, LA · FDIC Cert #19657.
- Closing date
- November 18, 2011
- Headquarters
- Lacombe, LA
- FDIC Certificate
- 19657
- Total assets at closing
- $383.1M
- Total deposits at closing
- $347.7M
- Estimated loss to the insurance fund
- $48.8M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First NBC Bank
Context
On November 18, 2011, regulators closed Central Progressive Bank, headquartered in Lacombe, LA. At closing, the institution held approximately $383.1M in assets and $347.7M in deposits. The FDIC record names First NBC Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $48.8M.
By assets at closing this is the 470th largest of the 3,526 bank failures in the FDIC record, and the 23rd 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 Central Progressive Bank fail?
Central Progressive Bank was closed by regulators on November 18, 2011.
Who acquired Central Progressive Bank?
The FDIC record names First NBC Bank as the acquiring institution in the resolution of Central Progressive Bank.
How big was Central Progressive Bank when it failed?
Central Progressive Bank had approximately $383.1M in total assets and $347.7M 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 | 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 |
| Oct 21, 2011 | Community Banks of Colorado | $1.28B |
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