Bank Failure
Charter Oak Bank
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Closed February 18, 2011 · Napa, CA · FDIC Cert #57855.
- Closing date
- February 18, 2011
- Headquarters
- Napa, CA
- FDIC Certificate
- 57855
- Total assets at closing
- $120.8M
- Total deposits at closing
- $105.3M
- Estimated loss to the insurance fund
- $20.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Bank of Marin
Context
On February 18, 2011, regulators closed Charter Oak Bank, headquartered in Napa, CA. At closing, the institution held approximately $120.8M in assets and $105.3M in deposits. The FDIC record names Bank of Marin as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $20.1M.
By assets at closing this is the 1081st largest of the 3,526 bank failures in the FDIC record, and the 71st 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 Charter Oak Bank fail?
Charter Oak Bank was closed by regulators on February 18, 2011.
Who acquired Charter Oak Bank?
The FDIC record names Bank of Marin as the acquiring institution in the resolution of Charter Oak Bank.
How big was Charter Oak Bank when it failed?
Charter Oak Bank had approximately $120.8M in total assets and $105.3M 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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