Bank Failure
First Community Bank
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Closed January 28, 2011 · Taos, NM · FDIC Cert #12261.
- Closing date
- January 28, 2011
- Headquarters
- Taos, NM
- FDIC Certificate
- 12261
- Total assets at closing
- $2.19B
- Total deposits at closing
- $1.85B
- Estimated loss to the insurance fund
- $230.7M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- U.S. Bank, N.A.
Context
On January 28, 2011, regulators closed First Community Bank, headquartered in Taos, NM. At closing, the institution held approximately $2.19B in assets and $1.85B in deposits. The FDIC record names U.S. Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $230.7M.
By assets at closing this is the 98th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 92 in 2011. 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 First Community Bank fail?
First Community Bank was closed by regulators on January 28, 2011.
Who acquired First Community Bank?
The FDIC record names U.S. Bank, N.A. as the acquiring institution in the resolution of First Community Bank.
How big was First Community Bank when it failed?
First Community Bank had approximately $2.19B in total assets and $1.85B in deposits at the time of failure.
Other failures in 2011
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 2011 | Western National Bank | $162.9M |
| Dec 16, 2011 | Premier Community Bank of the Emerald Coast | $126.0M |
| Nov 18, 2011 | Central Progressive Bank | $383.1M |
| Nov 18, 2011 | Polk County Bank | $91.6M |
| Nov 10, 2011 | Community Bank of Rockmart | $62.4M |
| Nov 4, 2011 | Sunfirst Bank | $198.1M |
| Nov 4, 2011 | Mid City Bank, Inc. | $106.1M |
| Oct 28, 2011 | All American Bank | $34.8M |
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