Bank Failure
Frontier Bank
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Closed April 30, 2010 · Everett, WA · FDIC Cert #22710.
- Closing date
- April 30, 2010
- Headquarters
- Everett, WA
- FDIC Certificate
- 22710
- Total assets at closing
- $3.25B
- Total deposits at closing
- $2.85B
- Estimated loss to the insurance fund
- $453.9M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Union Bank, N.A.
Context
On April 30, 2010, regulators closed Frontier Bank, headquartered in Everett, WA. At closing, the institution held approximately $3.25B in assets and $2.85B in deposits. The FDIC record names Union Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $453.9M.
By assets at closing this is the 70th largest of the 3,526 bank failures in the FDIC record, and the 5th 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 Frontier Bank fail?
Frontier Bank was closed by regulators on April 30, 2010.
Who acquired Frontier Bank?
The FDIC record names Union Bank, N.A. as the acquiring institution in the resolution of Frontier Bank.
How big was Frontier Bank when it failed?
Frontier Bank had approximately $3.25B in total assets and $2.85B 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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