Bank Failure
New City Bank
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Closed March 9, 2012 · Chicago, IL · FDIC Cert #57597.
- Closing date
- March 9, 2012
- Headquarters
- Chicago, IL
- FDIC Certificate
- 57597
- Total assets at closing
- $71.2M
- Total deposits at closing
- $72.4M
- Estimated loss to the insurance fund
- $13.2M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
Context
On March 9, 2012, regulators closed New City Bank, headquartered in Chicago, IL. At closing, the institution held approximately $71.2M in assets and $72.4M in deposits. The FDIC record does not name an acquiring institution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $13.2M.
By assets at closing this is the 1414th largest of the 3,526 bank failures in the FDIC record, and the 42nd of 51 in 2012. 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 New City Bank fail?
New City Bank was closed by regulators on March 9, 2012.
How big was New City Bank when it failed?
New City Bank had approximately $71.2M in total assets and $72.4M in deposits at the time of failure.
Other failures in 2012
| Date | Bank | Assets |
|---|---|---|
| Dec 14, 2012 | Community Bank of the Ozarks | $42.8M |
| Nov 16, 2012 | Hometown Communitybank | $124.6M |
| Nov 2, 2012 | Citizens First National Bank | $924.0M |
| Nov 2, 2012 | Heritage Bank of Florida | $225.5M |
| Oct 26, 2012 | Nova Bank | $444.7M |
| Oct 19, 2012 | Excel Bank | $186.1M |
| Oct 19, 2012 | Gulfsouth Private Bank | $139.4M |
| Oct 19, 2012 | First East Side Savings Bank | $65.7M |
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