Bank Failure
Nevada Commerce Bank
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Closed April 8, 2011 · Las Vegas, NV · FDIC Cert #35418.
- Closing date
- April 8, 2011
- Headquarters
- Las Vegas, NV
- FDIC Certificate
- 35418
- Total assets at closing
- $135.1M
- Total deposits at closing
- $128.6M
- Estimated loss to the insurance fund
- $38.5M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- City National Bank
Context
On April 8, 2011, regulators closed Nevada Commerce Bank, headquartered in Las Vegas, NV. At closing, the institution held approximately $135.1M in assets and $128.6M in deposits. The FDIC record names City National Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $38.5M.
By assets at closing this is the 1015th largest of the 3,526 bank failures in the FDIC record, and the 66th 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 Nevada Commerce Bank fail?
Nevada Commerce Bank was closed by regulators on April 8, 2011.
Who acquired Nevada Commerce Bank?
The FDIC record names City National Bank as the acquiring institution in the resolution of Nevada Commerce Bank.
How big was Nevada Commerce Bank when it failed?
Nevada Commerce Bank had approximately $135.1M in total assets and $128.6M 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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