Bank Failure
Evergreen Bank
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Closed January 22, 2010 · Seattle, WA · FDIC Cert #20501.
- Closing date
- January 22, 2010
- Headquarters
- Seattle, WA
- FDIC Certificate
- 20501
- Total assets at closing
- $396.0M
- Total deposits at closing
- $340.4M
- Estimated loss to the insurance fund
- $43.4M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Umpqua Bank
Context
On January 22, 2010, regulators closed Evergreen Bank, headquartered in Seattle, WA. At closing, the institution held approximately $396.0M in assets and $340.4M in deposits. The FDIC record names Umpqua Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $43.4M.
By assets at closing this is the 455th largest of the 3,526 bank failures in the FDIC record, and the 57th 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 Evergreen Bank fail?
Evergreen Bank was closed by regulators on January 22, 2010.
Who acquired Evergreen Bank?
The FDIC record names Umpqua Bank as the acquiring institution in the resolution of Evergreen Bank.
How big was Evergreen Bank when it failed?
Evergreen Bank had approximately $396.0M in total assets and $340.4M 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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