Bank Failure
MILLENNIUM BANK, NATIONAL ASSOCIATION
Closed February 28, 2014 · STERLING, VA · FDIC Cert #35096.
- Closing date
- February 28, 2014
- Headquarters
- STERLING, VA
- FDIC Certificate
- 35096
- Total assets at closing
- $130,305,000
- Total deposits at closing
- $121,704,000
- Estimated loss to DIF
- $10,940,000
- Resolution type
- other
- Acquirer
- WASHINGTONFIRST BANK (FDIC Cert #10495)
Context
On February 28, 2014, regulators closed MILLENNIUM BANK, NATIONAL ASSOCIATION, headquartered in STERLING, VA. At closing, the institution held approximately $130,305,000 in assets and $121,704,000 in deposits. The FDIC arranged a resolution under which WASHINGTONFIRST BANK acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $10,940,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 2014
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 2014-12-19 | NORTHERN STAR BANK | MANKATO, MN | $18,794,000 |
| 2014-11-07 | FRONTIER BANK, FSB | PALM DESERT, CA | $80,736,000 |
| 2014-10-24 | THE NATIONAL REPUBLIC BANK OF CHICAGO | CHICAGO, IL | $843,118,000 |
| 2014-10-17 | NBRS FINANCIAL BANK | RISING SUN, MD | $155,353,000 |
| 2014-07-25 | GREENCHOICE BANK, FSB | CHICAGO, IL | $70,286,000 |
| 2014-07-18 | EASTSIDE COMMERCIAL BANK | CONYERS, GA | $173,946,000 |
| 2014-06-27 | THE FREEDOM STATE BANK | FREEDOM, OK | $22,816,000 |
| 2014-06-20 | VALLEY BANK | MOLINE, IL | $456,442,000 |
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