Bank Failure
Key West Bank
BankRegReports is independent of Key West Bank and never asks for online banking logins or passwords.
Closed March 26, 2010 · Key West, FL · FDIC Cert #34684.
- Closing date
- March 26, 2010
- Headquarters
- Key West, FL
- FDIC Certificate
- 34684
- Total assets at closing
- $88.0M
- Total deposits at closing
- $67.7M
- Estimated loss to the insurance fund
- $16.2M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Centennial Bank
Context
On March 26, 2010, regulators closed Key West Bank, headquartered in Key West, FL. At closing, the institution held approximately $88.0M in assets and $67.7M in deposits. The FDIC record names Centennial Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $16.2M.
By assets at closing this is the 1278th largest of the 3,526 bank failures in the FDIC record, and the 127th of 157 in 2010. 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 Key West Bank fail?
Key West Bank was closed by regulators on March 26, 2010.
Who acquired Key West Bank?
The FDIC record names Centennial Bank as the acquiring institution in the resolution of Key West Bank.
How big was Key West Bank when it failed?
Key West Bank had approximately $88.0M in total assets and $67.7M in deposits at the time of failure.
Other failures in 2010
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2010 | The Bank of Miami | $448.1M |
| Dec 17, 2010 | Chestatee State Bank | $244.4M |
| Dec 17, 2010 | United Americas Bank | $242.3M |
| Dec 17, 2010 | First Southern Bank | $191.8M |
| Dec 17, 2010 | Appalacian Community Bank, F.S.B. | $68.2M |
| Dec 17, 2010 | Community National Bank | $31.6M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Dec 10, 2010 | Earthstar Bank | $112.6M |
Explore: all failures · FL bank events · 2010 events · events hub