Bank Failure
North Milwaukee State Bank
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Closed March 11, 2016 · Milwaukee, WI · FDIC Cert #20364.
- Closing date
- March 11, 2016
- Headquarters
- Milwaukee, WI
- FDIC Certificate
- 20364
- Total assets at closing
- $67.1M
- Total deposits at closing
- $61.5M
- Estimated loss to the insurance fund
- $11.8M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First-Citizens Bank & Trust Company
Context
On March 11, 2016, regulators closed North Milwaukee State Bank, headquartered in Milwaukee, WI. At closing, the institution held approximately $67.1M in assets and $61.5M in deposits. The FDIC record names First-Citizens Bank & Trust Company as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $11.8M.
By assets at closing this is the 1449th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 5 in 2016. 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 North Milwaukee State Bank fail?
North Milwaukee State Bank was closed by regulators on March 11, 2016.
Who acquired North Milwaukee State Bank?
The FDIC record names First-Citizens Bank & Trust Company as the acquiring institution in the resolution of North Milwaukee State Bank.
How big was North Milwaukee State Bank when it failed?
North Milwaukee State Bank had approximately $67.1M in total assets and $61.5M in deposits at the time of failure.
Other failures in 2016
| Date | Bank | Assets |
|---|---|---|
| Sep 23, 2016 | Allied Bank | $66.3M |
| Aug 19, 2016 | The Woodbury Banking Company | $21.4M |
| May 6, 2016 | First Cornerstone Bank | $103.3M |
| Apr 29, 2016 | Trust Company Bank | $19.0M |
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