Bank Failure
First Federal Bank of North Florida
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Closed April 16, 2010 · Palatka, FL · FDIC Cert #28886.
- Closing date
- April 16, 2010
- Headquarters
- Palatka, FL
- FDIC Certificate
- 28886
- Total assets at closing
- $440.1M
- Total deposits at closing
- $369.6M
- Estimated loss to the insurance fund
- $12.0M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- TD Bank, N.A.
Context
On April 16, 2010, regulators closed First Federal Bank of North Florida, headquartered in Palatka, FL. At closing, the institution held approximately $440.1M in assets and $369.6M in deposits. The FDIC record names TD Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $12.0M.
By assets at closing this is the 418th largest of the 3,526 bank failures in the FDIC record, and the 53rd 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 First Federal Bank of North Florida fail?
First Federal Bank of North Florida was closed by regulators on April 16, 2010.
Who acquired First Federal Bank of North Florida?
The FDIC record names TD Bank, N.A. as the acquiring institution in the resolution of First Federal Bank of North Florida.
How big was First Federal Bank of North Florida when it failed?
First Federal Bank of North Florida had approximately $440.1M in total assets and $369.6M 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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