Bank Failure
Millennium Bank, N.A.
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Closed February 28, 2014 · Sterling, VA · FDIC Cert #35096.
- Closing date
- February 28, 2014
- Headquarters
- Sterling, VA
- FDIC Certificate
- 35096
- Total assets at closing
- $130.3M
- Total deposits at closing
- $121.7M
- Estimated loss to the insurance fund
- $10.9M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Washingtonfirst Bank
Context
On February 28, 2014, regulators closed Millennium Bank, N.A., headquartered in Sterling, VA. At closing, the institution held approximately $130.3M in assets and $121.7M in deposits. The FDIC record names Washingtonfirst Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $10.9M.
By assets at closing this is the 1042nd largest of the 3,526 bank failures in the FDIC record, and the 8th of 18 in 2014. It falls in the period the record labels Post-Dodd-Frank Calm (2014-2022), a period with 47 failures peaking at 18 in 2014.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Millennium Bank, N.A. fail?
Millennium Bank, N.A. was closed by regulators on February 28, 2014.
Who acquired Millennium Bank, N.A.?
The FDIC record names Washingtonfirst Bank as the acquiring institution in the resolution of Millennium Bank, N.A.
How big was Millennium Bank, N.A. when it failed?
Millennium Bank, N.A. had approximately $130.3M in total assets and $121.7M in deposits at the time of failure.
Other failures in 2014
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 2014 | Northern Star Bank | $18.8M |
| Nov 7, 2014 | Frontier Bank, FSB | $80.7M |
| Oct 24, 2014 | The National Republic Bank of Chicago | $843.1M |
| Oct 17, 2014 | NBRS Financial Bank | $155.4M |
| Jul 25, 2014 | Greenchoice Bank, FSB | $70.3M |
| Jul 18, 2014 | Eastside Commercial Bank | $173.9M |
| Jun 27, 2014 | The Freedom State Bank | $22.8M |
| Jun 20, 2014 | Valley Bank | $456.4M |
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