Bank Failure
Landmark Bank of Florida
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Closed July 22, 2011 · Sarasota, FL · FDIC Cert #35244.
- Closing date
- July 22, 2011
- Headquarters
- Sarasota, FL
- FDIC Certificate
- 35244
- Total assets at closing
- $266.5M
- Total deposits at closing
- $244.4M
- Estimated loss to the insurance fund
- $37.4M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- American Momentum Bank
Context
On July 22, 2011, regulators closed Landmark Bank of Florida, headquartered in Sarasota, FL. At closing, the institution held approximately $266.5M in assets and $244.4M in deposits. The FDIC record names American Momentum Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $37.4M.
By assets at closing this is the 608th largest of the 3,526 bank failures in the FDIC record, and the 33rd of 92 in 2011. 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 Landmark Bank of Florida fail?
Landmark Bank of Florida was closed by regulators on July 22, 2011.
Who acquired Landmark Bank of Florida?
The FDIC record names American Momentum Bank as the acquiring institution in the resolution of Landmark Bank of Florida.
How big was Landmark Bank of Florida when it failed?
Landmark Bank of Florida had approximately $266.5M in total assets and $244.4M in deposits at the time of failure.
Other failures in 2011
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 2011 | Western National Bank | $162.9M |
| Dec 16, 2011 | Premier Community Bank of the Emerald Coast | $126.0M |
| Nov 18, 2011 | Central Progressive Bank | $383.1M |
| Nov 18, 2011 | Polk County Bank | $91.6M |
| Nov 10, 2011 | Community Bank of Rockmart | $62.4M |
| Nov 4, 2011 | Sunfirst Bank | $198.1M |
| Nov 4, 2011 | Mid City Bank, Inc. | $106.1M |
| Oct 28, 2011 | All American Bank | $34.8M |
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