Bank Failure
Malta National Bank
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Closed May 3, 2001 · Malta, OH · FDIC Cert #6629.
- Closing date
- May 3, 2001
- Headquarters
- Malta, OH
- FDIC Certificate
- 6629
- Total assets at closing
- $9.1M
- Total deposits at closing
- $8.7M
- Estimated loss to the insurance fund
- $769K
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- North Valley Bank
Context
On May 3, 2001, regulators closed Malta National Bank, headquartered in Malta, OH. At closing, the institution held approximately $9.1M in assets and $8.7M in deposits. The FDIC record names North Valley Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $769K.
By assets at closing this is the 2823rd largest of the 3,526 bank failures in the FDIC record, and the 4th of 4 in 2001. 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 Malta National Bank fail?
Malta National Bank was closed by regulators on May 3, 2001.
Who acquired Malta National Bank?
The FDIC record names North Valley Bank as the acquiring institution in the resolution of Malta National Bank.
How big was Malta National Bank when it failed?
Malta National Bank had approximately $9.1M in total assets and $8.7M in deposits at the time of failure.
Other failures in 2001
| Date | Bank | Assets |
|---|---|---|
| Sep 7, 2001 | Sinclair National Bank | $29.8M |
| Jul 27, 2001 | Superior Bank, FSB | $1.77B |
| Feb 2, 2001 | First Alliance Bank and Trust Co | $17.4M |
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