Bank Failure
Earthstar Bank
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Closed December 10, 2010 · Southampton, PA · FDIC Cert #35561.
- Closing date
- December 10, 2010
- Headquarters
- Southampton, PA
- FDIC Certificate
- 35561
- Total assets at closing
- $112.6M
- Total deposits at closing
- $104.5M
- Estimated loss to the insurance fund
- $22.5M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Polonia Bank
Context
On December 10, 2010, regulators closed Earthstar Bank, headquartered in Southampton, PA. At closing, the institution held approximately $112.6M in assets and $104.5M in deposits. The FDIC record names Polonia Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $22.5M.
By assets at closing this is the 1121st largest of the 3,526 bank failures in the FDIC record, and the 114th 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 Earthstar Bank fail?
Earthstar Bank was closed by regulators on December 10, 2010.
Who acquired Earthstar Bank?
The FDIC record names Polonia Bank as the acquiring institution in the resolution of Earthstar Bank.
How big was Earthstar Bank when it failed?
Earthstar Bank had approximately $112.6M in total assets and $104.5M 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 |
| Nov 19, 2010 | First Banking Center | $750.7M |
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