Bank Failure
First Heritage Bank
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Closed May 27, 2011 · Snohomish, WA · FDIC Cert #23626.
- Closing date
- May 27, 2011
- Headquarters
- Snohomish, WA
- FDIC Certificate
- 23626
- Total assets at closing
- $173.5M
- Total deposits at closing
- $163.3M
- Estimated loss to the insurance fund
- $33.6M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Columbia State Bank
Context
On May 27, 2011, regulators closed First Heritage Bank, headquartered in Snohomish, WA. At closing, the institution held approximately $173.5M in assets and $163.3M in deposits. The FDIC record names Columbia State Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $33.6M.
By assets at closing this is the 850th largest of the 3,526 bank failures in the FDIC record, and the 55th 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 Heritage Bank fail?
First Heritage Bank was closed by regulators on May 27, 2011.
Who acquired First Heritage Bank?
The FDIC record names Columbia State Bank as the acquiring institution in the resolution of First Heritage Bank.
How big was First Heritage Bank when it failed?
First Heritage Bank had approximately $173.5M in total assets and $163.3M 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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