Bank Failure
Florida Community Bank
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Closed January 29, 2010 · Immokalee, FL · FDIC Cert #5672.
- Closing date
- January 29, 2010
- Headquarters
- Immokalee, FL
- FDIC Certificate
- 5672
- Total assets at closing
- $835.7M
- Total deposits at closing
- $776.6M
- Estimated loss to the insurance fund
- $309.0M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Premier American Bank, N.A.
Context
On January 29, 2010, regulators closed Florida Community Bank, headquartered in Immokalee, FL. At closing, the institution held approximately $835.7M in assets and $776.6M in deposits. The FDIC record names Premier American Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $309.0M.
By assets at closing this is the 254th largest of the 3,526 bank failures in the FDIC record, and the 26th 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 Florida Community Bank fail?
Florida Community Bank was closed by regulators on January 29, 2010.
Who acquired Florida Community Bank?
The FDIC record names Premier American Bank, N.A. as the acquiring institution in the resolution of Florida Community Bank.
How big was Florida Community Bank when it failed?
Florida Community Bank had approximately $835.7M in total assets and $776.6M 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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