Bank Failure
County Bank
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Closed February 6, 2009 · Merced, CA · FDIC Cert #22574.
- Closing date
- February 6, 2009
- Headquarters
- Merced, CA
- FDIC Certificate
- 22574
- Total assets at closing
- $1.71B
- Total deposits at closing
- $1.32B
- Estimated loss to the insurance fund
- $61.8M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Westamerica Bank
Context
On February 6, 2009, regulators closed County Bank, headquartered in Merced, CA. At closing, the institution held approximately $1.71B in assets and $1.32B in deposits. The FDIC record names Westamerica Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $61.8M.
By assets at closing this is the 130th largest of the 3,526 bank failures in the FDIC record, and the 19th 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 County Bank fail?
County Bank was closed by regulators on February 6, 2009.
Who acquired County Bank?
The FDIC record names Westamerica Bank as the acquiring institution in the resolution of County Bank.
How big was County Bank when it failed?
County Bank had approximately $1.71B in total assets and $1.32B 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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