Bank Failure
Hamilton Bank, N.A.
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Closed January 11, 2002 · Miami, FL · FDIC Cert #24382.
- Closing date
- January 11, 2002
- Headquarters
- Miami, FL
- FDIC Certificate
- 24382
- Total assets at closing
- $1.41B
- Total deposits at closing
- $1.30B
- Estimated loss to the insurance fund
- $101.7M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Israel Discount Bank of New
Context
On January 11, 2002, regulators closed Hamilton Bank, N.A., headquartered in Miami, FL. At closing, the institution held approximately $1.41B in assets and $1.30B in deposits. The FDIC record names Israel Discount Bank of New as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $101.7M.
By assets at closing this is the 159th largest of the 3,526 bank failures in the FDIC record, and the 1st of 11 in 2002. 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 Hamilton Bank, N.A. fail?
Hamilton Bank, N.A. was closed by regulators on January 11, 2002.
Who acquired Hamilton Bank, N.A.?
The FDIC record names Israel Discount Bank of New as the acquiring institution in the resolution of Hamilton Bank, N.A.
How big was Hamilton Bank, N.A. when it failed?
Hamilton Bank, N.A. had approximately $1.41B in total assets and $1.30B in deposits at the time of failure.
Other failures in 2002
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2002 | The Farmers Bank & Trust of Cheneyville | $35.3M |
| Nov 8, 2002 | Bank of Alamo | $58.5M |
| Sep 30, 2002 | Amtrade International Bank of Georgia | $92.1M |
| Jun 27, 2002 | Universal FSB | $51.6M |
| Jun 26, 2002 | Connecticut Bank of Commerce | $384.2M |
| Mar 28, 2002 | New Century Bank | $21.1M |
| Mar 1, 2002 | Net First National Bank | $37.2M |
| Feb 7, 2002 | Nextbank | $700.2M |
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