Bank Failure
Commerce Bank of Southwest Florida
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Closed November 20, 2009 · Fort Myers, FL · FDIC Cert #58016.
- Closing date
- November 20, 2009
- Headquarters
- Fort Myers, FL
- FDIC Certificate
- 58016
- Total assets at closing
- $71.0M
- Total deposits at closing
- $72.8M
- Estimated loss to the insurance fund
- $32.2M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Central Bank
Context
On November 20, 2009, regulators closed Commerce Bank of Southwest Florida, headquartered in Fort Myers, FL. At closing, the institution held approximately $71.0M in assets and $72.8M in deposits. The FDIC record names Central Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $32.2M.
By assets at closing this is the 1417th largest of the 3,526 bank failures in the FDIC record, and the 125th 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 Commerce Bank of Southwest Florida fail?
Commerce Bank of Southwest Florida was closed by regulators on November 20, 2009.
Who acquired Commerce Bank of Southwest Florida?
The FDIC record names Central Bank as the acquiring institution in the resolution of Commerce Bank of Southwest Florida.
How big was Commerce Bank of Southwest Florida when it failed?
Commerce Bank of Southwest Florida had approximately $71.0M in total assets and $72.8M 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 18, 2009 | Citizens State Bank | $168.6M |
| Dec 11, 2009 | Solutionsbank | $511.1M |
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