Bank Failure
Coastal Community Bank
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Closed July 30, 2010 · Panama City Beach, FL · FDIC Cert #9619.
- Closing date
- July 30, 2010
- Headquarters
- Panama City Beach, FL
- FDIC Certificate
- 9619
- Total assets at closing
- $377.5M
- Total deposits at closing
- $370.0M
- Estimated loss to the insurance fund
- $116.9M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Centennial Bank
Context
On July 30, 2010, regulators closed Coastal Community Bank, headquartered in Panama City Beach, FL. At closing, the institution held approximately $377.5M in assets and $370.0M in deposits. The FDIC record names Centennial Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $116.9M.
By assets at closing this is the 476th largest of the 3,526 bank failures in the FDIC record, and the 60th 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 Coastal Community Bank fail?
Coastal Community Bank was closed by regulators on July 30, 2010.
Who acquired Coastal Community Bank?
The FDIC record names Centennial Bank as the acquiring institution in the resolution of Coastal Community Bank.
How big was Coastal Community Bank when it failed?
Coastal Community Bank had approximately $377.5M in total assets and $370.0M 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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