Bank Failure
First Heritage Bank N.A.
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Closed July 25, 2008 · Newport Beach, CA · FDIC Cert #57961.
- Closing date
- July 25, 2008
- Headquarters
- Newport Beach, CA
- FDIC Certificate
- 57961
- Total assets at closing
- $255.4M
- Total deposits at closing
- $234.8M
- Estimated loss to the insurance fund
- $92.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Mutual of Omaha Bank
Context
On July 25, 2008, regulators closed First Heritage Bank N.A., headquartered in Newport Beach, CA. At closing, the institution held approximately $255.4M in assets and $234.8M in deposits. The FDIC record names Mutual of Omaha Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $92.1M.
By assets at closing this is the 635th largest of the 3,526 bank failures in the FDIC record, and the 18th of 25 in 2008. 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 N.A. fail?
First Heritage Bank N.A. was closed by regulators on July 25, 2008.
Who acquired First Heritage Bank N.A.?
The FDIC record names Mutual of Omaha Bank as the acquiring institution in the resolution of First Heritage Bank N.A.
How big was First Heritage Bank N.A. when it failed?
First Heritage Bank N.A. had approximately $255.4M in total assets and $234.8M in deposits at the time of failure.
Other failures in 2008
| Date | Bank | Assets |
|---|---|---|
| Dec 12, 2008 | Haven Trust Bank | $559.6M |
| Dec 12, 2008 | Sanderson State Bank | $38.2M |
| Dec 5, 2008 | First Georgia Community Bank | $256.4M |
| Nov 21, 2008 | Downey Savings and Loan Association, F.A. | $12.78B |
| Nov 21, 2008 | PFF Bank & Trust | $3.72B |
| Nov 21, 2008 | The Community Bank | $634.9M |
| Nov 7, 2008 | Franklin Bank, SSB | $5.09B |
| Nov 7, 2008 | Security Pacific Bank | $528.0M |
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