Bank Failure
Guaranty Bank
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Closed May 5, 2017 · Milwaukee, WI · FDIC Cert #30003.
- Closing date
- May 5, 2017
- Headquarters
- Milwaukee, WI
- FDIC Certificate
- 30003
- Total assets at closing
- $1.03B
- Total deposits at closing
- $1.00B
- Estimated loss to the insurance fund
- $132.0M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First-Citizens Bank & Trust Company
Context
On May 5, 2017, regulators closed Guaranty Bank, headquartered in Milwaukee, WI. At closing, the institution held approximately $1.03B in assets and $1.00B in deposits. The FDIC record names First-Citizens Bank & Trust Company as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $132.0M.
By assets at closing this is the 203rd largest of the 3,526 bank failures in the FDIC record, and the 2nd of 8 in 2017. 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 Guaranty Bank fail?
Guaranty Bank was closed by regulators on May 5, 2017.
Who acquired Guaranty Bank?
The FDIC record names First-Citizens Bank & Trust Company as the acquiring institution in the resolution of Guaranty Bank.
How big was Guaranty Bank when it failed?
Guaranty Bank had approximately $1.03B in total assets and $1.00B in deposits at the time of failure.
Other failures in 2017
| Date | Bank | Assets |
|---|---|---|
| Dec 15, 2017 | Washington Federal Bank for Savings | $166.3M |
| Oct 13, 2017 | The Farmers and Merchants State Bank of Argonia | $33.0M |
| May 26, 2017 | Fayette County Bank | $34.4M |
| Apr 28, 2017 | First NBC Bank | $3.33B |
| Mar 3, 2017 | Proficio Bank | $68.2M |
| Jan 27, 2017 | Seaway Bank and Trust Company | $297.8M |
| Jan 13, 2017 | Harvest Community Bank | $124.2M |
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