Bank Failure
Citizens State Bank
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Closed December 18, 2009 · New Baltimore, MI · FDIC Cert #1006.
- Closing date
- December 18, 2009
- Headquarters
- New Baltimore, MI
- FDIC Certificate
- 1006
- Total assets at closing
- $168.6M
- Total deposits at closing
- $157.1M
- Estimated loss to the insurance fund
- $68.2M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
Context
On December 18, 2009, regulators closed Citizens State Bank, headquartered in New Baltimore, MI. At closing, the institution held approximately $168.6M in assets and $157.1M in deposits. The FDIC record does not name an acquiring institution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $68.2M.
By assets at closing this is the 866th largest of the 3,526 bank failures in the FDIC record, and the 91st of 140 in 2009. 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 Citizens State Bank fail?
Citizens State Bank was closed by regulators on December 18, 2009.
How big was Citizens State Bank when it failed?
Citizens State Bank had approximately $168.6M in total assets and $157.1M in deposits at the time of failure.
Other failures in 2009
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 2009 | First Federal Bank of California, a Federal Savings Bank | $6.14B |
| Dec 18, 2009 | Imperial Capital Bank | $4.05B |
| Dec 18, 2009 | Peoples First Community Bank | $1.80B |
| Dec 18, 2009 | New South Federal Savings Bank | $1.46B |
| Dec 18, 2009 | Independent Bankers' Bank | $585.5M |
| Dec 18, 2009 | Rockbridge Commercial Bank | $294.0M |
| Dec 11, 2009 | Solutionsbank | $511.1M |
| Dec 11, 2009 | Republic Federal Bank, N.A. | $433.0M |
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