Bank Failure
Miami Valley Bank
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Closed October 4, 2007 · Lakeview, OH · FDIC Cert #16848.
- Closing date
- October 4, 2007
- Headquarters
- Lakeview, OH
- FDIC Certificate
- 16848
- Total assets at closing
- $125.4M
- Total deposits at closing
- $119.6M
- Estimated loss to the insurance fund
- $28.4M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- The Citizens Banking Company
Context
On October 4, 2007, regulators closed Miami Valley Bank, headquartered in Lakeview, OH. At closing, the institution held approximately $125.4M in assets and $119.6M in deposits. The FDIC record names The Citizens Banking Company as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $28.4M.
By assets at closing this is the 1065th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 3 in 2007. 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 Miami Valley Bank fail?
Miami Valley Bank was closed by regulators on October 4, 2007.
Who acquired Miami Valley Bank?
The FDIC record names The Citizens Banking Company as the acquiring institution in the resolution of Miami Valley Bank.
How big was Miami Valley Bank when it failed?
Miami Valley Bank had approximately $125.4M in total assets and $119.6M in deposits at the time of failure.
Other failures in 2007
| Date | Bank | Assets |
|---|---|---|
| Sep 28, 2007 | Netbank | $2.47B |
| Feb 2, 2007 | Metropolitan Savings Bank | $15.8M |
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