Bank Failure
Haven Trust Bank
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Closed December 12, 2008 · Duluth, GA · FDIC Cert #35379.
- Closing date
- December 12, 2008
- Headquarters
- Duluth, GA
- FDIC Certificate
- 35379
- Total assets at closing
- $559.6M
- Total deposits at closing
- $489.7M
- Estimated loss to the insurance fund
- $246.6M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Branch Banking and Trust Company
Context
On December 12, 2008, regulators closed Haven Trust Bank, headquartered in Duluth, GA. At closing, the institution held approximately $559.6M in assets and $489.7M in deposits. The FDIC record names Branch Banking and Trust Company as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $246.6M.
By assets at closing this is the 342nd largest of the 3,526 bank failures in the FDIC record, and the 12th of 25 in 2008. 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 Haven Trust Bank fail?
Haven Trust Bank was closed by regulators on December 12, 2008.
Who acquired Haven Trust Bank?
The FDIC record names Branch Banking and Trust Company as the acquiring institution in the resolution of Haven Trust Bank.
How big was Haven Trust Bank when it failed?
Haven Trust Bank had approximately $559.6M in total assets and $489.7M in deposits at the time of failure.
Other failures in 2008
| Date | Bank | Assets |
|---|---|---|
| Dec 12, 2008 | Sanderson State Bank | $38.2M |
| Dec 5, 2008 | First Georgia Community Bank | $256.4M |
| Nov 21, 2008 | Downey Savings and Loan Association, F.A. | $12.78B |
| Nov 21, 2008 | PFF Bank & Trust | $3.72B |
| Nov 21, 2008 | The Community Bank | $634.9M |
| Nov 7, 2008 | Franklin Bank, SSB | $5.09B |
| Nov 7, 2008 | Security Pacific Bank | $528.0M |
| Oct 31, 2008 | Freedom Bank | $270.8M |
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