Bank Failure
Golden City Commercial Bank
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Closed December 10, 1999 · New York, NY · FDIC Cert #26748.
- Closing date
- December 10, 1999
- Headquarters
- New York, NY
- FDIC Certificate
- 26748
- Total assets at closing
- $87.2M
- Total deposits at closing
- $80.4M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this failure)
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Cathay Bank
Context
On December 10, 1999, regulators closed Golden City Commercial Bank, headquartered in New York, NY. At closing, the institution held approximately $87.2M in assets and $80.4M in deposits. The FDIC record names Cathay Bank as the acquiring institution in the resolution.
By assets at closing this is the 1282nd largest of the 3,526 bank failures in the FDIC record, and the 4th 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 Golden City Commercial Bank fail?
Golden City Commercial Bank was closed by regulators on December 10, 1999.
Who acquired Golden City Commercial Bank?
The FDIC record names Cathay Bank as the acquiring institution in the resolution of Golden City Commercial Bank.
How big was Golden City Commercial Bank when it failed?
Golden City Commercial Bank had approximately $87.2M in total assets and $80.4M in deposits at the time of failure.
Other failures in 1999
| Date | Bank | Assets |
|---|---|---|
| Nov 22, 1999 | Pacific Thrift and Loan Co | $127.3M |
| Sep 10, 1999 | Peoples NB of Commerce | $36.8M |
| Sep 1, 1999 | First NB of Keystone | $1.12B |
| 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 |
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