FDIC Open-Bank Assistance
Citibank (South Dakota), N.A.
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Assistance provided November 23, 2008 · Sioux Falls, SD · FDIC Cert #23360.
- Assistance date
- November 23, 2008
- Headquarters
- Sioux Falls, SD
- FDIC Certificate
- 23360
- Total assets at the time
- $77.74B
- Total deposits at the time
- $42.36B
- 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 (South Dakota), N.A., headquartered in Sioux Falls, SD. The institution continued operating. At the time it held approximately $77.74B in assets and $42.36B 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 (South Dakota), N.A.?
Citibank (South Dakota), N.A. received FDIC open-bank assistance on November 23, 2008; it did not fail.
How big was Citibank (South Dakota), N.A. at the time of assistance?
Citibank (South Dakota), N.A. had approximately $77.74B in total assets and $42.36B 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 |
Explore: all failures · SD bank events · 2008 events · events hub