Bank Failure
First NB of Keystone
BankRegReports is independent of First NB of Keystone and never asks for online banking logins or passwords.
Closed September 1, 1999 · Keystone, WV · FDIC Cert #6771.
- Closing date
- September 1, 1999
- Headquarters
- Keystone, WV
- FDIC Certificate
- 6771
- Total assets at closing
- $1.12B
- Total deposits at closing
- $880.9M
- Estimated loss to the insurance fund
- $532.2M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Ameribank, Incorporated
Context
On September 1, 1999, regulators closed First NB of Keystone, headquartered in Keystone, WV. At closing, the institution held approximately $1.12B in assets and $880.9M in deposits. The FDIC record names Ameribank, Incorporated as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $532.2M.
By assets at closing this is the 191st largest of the 3,526 bank failures in the FDIC record, and the 1st of 8 in 1999. It falls in the period the record labels Consolidation Calm (1996-2007), a period with 50 failures peaking at 11 in 2002.
Riegle-Neal interstate-banking era. Industry consolidated rapidly via merger; failure counts dropped to single digits per year.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did First NB of Keystone fail?
First NB of Keystone was closed by regulators on September 1, 1999.
Who acquired First NB of Keystone?
The FDIC record names Ameribank, Incorporated as the acquiring institution in the resolution of First NB of Keystone.
How big was First NB of Keystone when it failed?
First NB of Keystone had approximately $1.12B in total assets and $880.9M in deposits at the time of failure.
Other failures in 1999
| Date | Bank | Assets |
|---|---|---|
| Dec 10, 1999 | Golden City Commercial Bank | $87.2M |
| Nov 22, 1999 | Pacific Thrift and Loan Co | $127.3M |
| Sep 10, 1999 | Peoples NB of Commerce | $36.8M |
| Jul 9, 1999 | East Texas NB of Marshall | $121.6M |
| Jul 9, 1999 | Oceanmark Bank, a FSB | $69.0M |
| Apr 23, 1999 | Zia New Mexico Bank | $17.3M |
| Mar 26, 1999 | Victory State Bank | $13.2M |
Explore: all failures · WV bank events · 1999 events · events hub