Bank Failure
North County Bank
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Closed September 24, 2010 · Arlington, WA · FDIC Cert #35053.
- Closing date
- September 24, 2010
- Headquarters
- Arlington, WA
- FDIC Certificate
- 35053
- Total assets at closing
- $288.8M
- Total deposits at closing
- $276.1M
- Estimated loss to the insurance fund
- $70.8M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Whidbey Island Bank
Context
On September 24, 2010, regulators closed North County Bank, headquartered in Arlington, WA. At closing, the institution held approximately $288.8M in assets and $276.1M in deposits. The FDIC record names Whidbey Island Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $70.8M.
By assets at closing this is the 574th largest of the 3,526 bank failures in the FDIC record, and the 72nd of 157 in 2010. 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 North County Bank fail?
North County Bank was closed by regulators on September 24, 2010.
Who acquired North County Bank?
The FDIC record names Whidbey Island Bank as the acquiring institution in the resolution of North County Bank.
How big was North County Bank when it failed?
North County Bank had approximately $288.8M in total assets and $276.1M in deposits at the time of failure.
Other failures in 2010
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2010 | The Bank of Miami | $448.1M |
| Dec 17, 2010 | Chestatee State Bank | $244.4M |
| Dec 17, 2010 | United Americas Bank | $242.3M |
| Dec 17, 2010 | First Southern Bank | $191.8M |
| Dec 17, 2010 | Appalacian Community Bank, F.S.B. | $68.2M |
| Dec 17, 2010 | Community National Bank | $31.6M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Dec 10, 2010 | Earthstar Bank | $112.6M |
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