FDIC Open-Bank Assistance
Citibank (Banamex USA)
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Assistance provided November 23, 2008 · Century City, CA · FDIC Cert #18923.
- Assistance date
- November 23, 2008
- Headquarters
- Century City, CA
- FDIC Certificate
- 18923
- Total assets at the time
- $1.32B
- Total deposits at the time
- $876.1M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this transaction)
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Open-bank assistance (the institution stayed open)
Context
On November 23, 2008, the FDIC provided open-bank assistance to Citibank (Banamex USA), headquartered in Century City, CA. The institution continued operating. At the time it held approximately $1.32B in assets and $876.1M in deposits. No acquirer was involved; the institution remained independent.
The FDIC record for 2008 holds 25 failures and 5 open-bank assistance transactions. 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 the FDIC provide assistance to Citibank (Banamex USA)?
Citibank (Banamex USA) received FDIC open-bank assistance on November 23, 2008; it did not fail.
How big was Citibank (Banamex USA) at the time of assistance?
Citibank (Banamex USA) had approximately $1.32B in total assets and $876.1M in deposits at the time of assistance.
Bank failures in 2008
| Date | Bank | Assets |
|---|---|---|
| Dec 12, 2008 | Haven Trust Bank | $559.6M |
| Dec 12, 2008 | Sanderson State Bank | $38.2M |
| Dec 5, 2008 | First Georgia Community Bank | $256.4M |
| Nov 21, 2008 | Downey Savings and Loan Association, F.A. | $12.78B |
| Nov 21, 2008 | PFF Bank & Trust | $3.72B |
| Nov 21, 2008 | The Community Bank | $634.9M |
| Nov 7, 2008 | Franklin Bank, SSB | $5.09B |
| Nov 7, 2008 | Security Pacific Bank | $528.0M |
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