Bank Failure
Charter Bank
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Closed January 22, 2010 · Santa Fe, NM · FDIC Cert #32498.
- Closing date
- January 22, 2010
- Headquarters
- Santa Fe, NM
- FDIC Certificate
- 32498
- Total assets at closing
- $1.20B
- Total deposits at closing
- $859.9M
- Estimated loss to the insurance fund
- $127.2M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Charter Bank
Context
On January 22, 2010, regulators closed Charter Bank, headquartered in Santa Fe, NM. At closing, the institution held approximately $1.20B in assets and $859.9M in deposits. The FDIC record names Charter Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $127.2M.
By assets at closing this is the 180th largest of the 3,526 bank failures in the FDIC record, and the 15th 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 Charter Bank fail?
Charter Bank was closed by regulators on January 22, 2010.
Who acquired Charter Bank?
The FDIC record names Charter Bank as the acquiring institution in the resolution of Charter Bank.
How big was Charter Bank when it failed?
Charter Bank had approximately $1.20B in total assets and $859.9M 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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