FDIC Open-Bank Assistance
Department Stores National Bank
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Assistance provided November 23, 2008 · Sioux Falls, SD · FDIC Cert #58180.
- Assistance date
- November 23, 2008
- Headquarters
- Sioux Falls, SD
- FDIC Certificate
- 58180
- Total assets at the time
- $374.9M
- Total deposits at the time
- $300.9M
- 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 Department Stores National Bank, headquartered in Sioux Falls, SD. The institution continued operating. At the time it held approximately $374.9M in assets and $300.9M 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 Department Stores National Bank?
Department Stores National Bank received FDIC open-bank assistance on November 23, 2008; it did not fail.
How big was Department Stores National Bank at the time of assistance?
Department Stores National Bank had approximately $374.9M in total assets and $300.9M 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