Bank Failure
Greenchoice Bank, FSB
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Closed July 25, 2014 · Chicago, IL · FDIC Cert #28462.
- Closing date
- July 25, 2014
- Headquarters
- Chicago, IL
- FDIC Certificate
- 28462
- Total assets at closing
- $70.3M
- Total deposits at closing
- $68.7M
- Estimated loss to the insurance fund
- $18.4M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Providence Bank, LLC
Context
On July 25, 2014, regulators closed Greenchoice Bank, FSB, headquartered in Chicago, IL. At closing, the institution held approximately $70.3M in assets and $68.7M in deposits. The FDIC record names Providence Bank, LLC as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $18.4M.
By assets at closing this is the 1426th largest of the 3,526 bank failures in the FDIC record, and the 11th of 18 in 2014. It falls in the period the record labels Post-Dodd-Frank Calm (2014-2022), a period with 47 failures peaking at 18 in 2014.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Greenchoice Bank, FSB fail?
Greenchoice Bank, FSB was closed by regulators on July 25, 2014.
Who acquired Greenchoice Bank, FSB?
The FDIC record names Providence Bank, LLC as the acquiring institution in the resolution of Greenchoice Bank, FSB.
How big was Greenchoice Bank, FSB when it failed?
Greenchoice Bank, FSB had approximately $70.3M in total assets and $68.7M in deposits at the time of failure.
Other failures in 2014
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 2014 | Northern Star Bank | $18.8M |
| Nov 7, 2014 | Frontier Bank, FSB | $80.7M |
| Oct 24, 2014 | The National Republic Bank of Chicago | $843.1M |
| Oct 17, 2014 | NBRS Financial Bank | $155.4M |
| Jul 18, 2014 | Eastside Commercial Bank | $173.9M |
| Jun 27, 2014 | The Freedom State Bank | $22.8M |
| Jun 20, 2014 | Valley Bank | $456.4M |
| Jun 20, 2014 | Valley Bank | $81.8M |
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