Bank Failure
Lakeside Community Bank
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Closed April 16, 2010 · Sterling Heights, MI · FDIC Cert #34878.
- Closing date
- April 16, 2010
- Headquarters
- Sterling Heights, MI
- FDIC Certificate
- 34878
- Total assets at closing
- $49.2M
- Total deposits at closing
- $48.6M
- Estimated loss to the insurance fund
- $21.0M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
Context
On April 16, 2010, regulators closed Lakeside Community Bank, headquartered in Sterling Heights, MI. At closing, the institution held approximately $49.2M in assets and $48.6M in deposits. The FDIC record does not name an acquiring institution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $21.0M.
By assets at closing this is the 1674th largest of the 3,526 bank failures in the FDIC record, and the 144th 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 Lakeside Community Bank fail?
Lakeside Community Bank was closed by regulators on April 16, 2010.
How big was Lakeside Community Bank when it failed?
Lakeside Community Bank had approximately $49.2M in total assets and $48.6M 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 |
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