Bank Failure
Oakwood Deposit Bank
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Closed February 1, 2002 · Oakwood, OH · FDIC Cert #8966.
- Closing date
- February 1, 2002
- Headquarters
- Oakwood, OH
- FDIC Certificate
- 8966
- Total assets at closing
- $72.3M
- Total deposits at closing
- $60.2M
- Estimated loss to the insurance fund
- $63.6M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- The State Bank and Trust Co
Context
On February 1, 2002, regulators closed Oakwood Deposit Bank, headquartered in Oakwood, OH. At closing, the institution held approximately $72.3M in assets and $60.2M in deposits. The FDIC record names The State Bank and Trust Co as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $63.6M.
By assets at closing this is the 1402nd largest of the 3,526 bank failures in the FDIC record, and the 5th of 11 in 2002. It falls in the period the record labels Consolidation Calm (1996-2007), a period with 50 failures peaking at 11 in 2002.
Riegle-Neal interstate-banking era. Industry consolidated rapidly via merger; failure counts dropped to single digits per year.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Oakwood Deposit Bank fail?
Oakwood Deposit Bank was closed by regulators on February 1, 2002.
Who acquired Oakwood Deposit Bank?
The FDIC record names The State Bank and Trust Co as the acquiring institution in the resolution of Oakwood Deposit Bank.
How big was Oakwood Deposit Bank when it failed?
Oakwood Deposit Bank had approximately $72.3M in total assets and $60.2M in deposits at the time of failure.
Other failures in 2002
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2002 | The Farmers Bank & Trust of Cheneyville | $35.3M |
| Nov 8, 2002 | Bank of Alamo | $58.5M |
| Sep 30, 2002 | Amtrade International Bank of Georgia | $92.1M |
| Jun 27, 2002 | Universal FSB | $51.6M |
| Jun 26, 2002 | Connecticut Bank of Commerce | $384.2M |
| Mar 28, 2002 | New Century Bank | $21.1M |
| Mar 1, 2002 | Net First National Bank | $37.2M |
| Feb 7, 2002 | Nextbank | $700.2M |
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