Bank Failure
Orion Bank
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Closed November 13, 2009 · Naples, FL · FDIC Cert #22427.
- Closing date
- November 13, 2009
- Headquarters
- Naples, FL
- FDIC Certificate
- 22427
- Total assets at closing
- $2.61B
- Total deposits at closing
- $2.17B
- Estimated loss to the insurance fund
- $713.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Iberiabank
Context
On November 13, 2009, regulators closed Orion Bank, headquartered in Naples, FL. At closing, the institution held approximately $2.61B in assets and $2.17B in deposits. The FDIC record names Iberiabank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $713.1M.
By assets at closing this is the 88th largest of the 3,526 bank failures in the FDIC record, and the 14th of 140 in 2009. 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 Orion Bank fail?
Orion Bank was closed by regulators on November 13, 2009.
Who acquired Orion Bank?
The FDIC record names Iberiabank as the acquiring institution in the resolution of Orion Bank.
How big was Orion Bank when it failed?
Orion Bank had approximately $2.61B in total assets and $2.17B in deposits at the time of failure.
Other failures in 2009
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 2009 | First Federal Bank of California, a Federal Savings Bank | $6.14B |
| Dec 18, 2009 | Imperial Capital Bank | $4.05B |
| Dec 18, 2009 | Peoples First Community Bank | $1.80B |
| Dec 18, 2009 | New South Federal Savings Bank | $1.46B |
| Dec 18, 2009 | Independent Bankers' Bank | $585.5M |
| Dec 18, 2009 | Rockbridge Commercial Bank | $294.0M |
| Dec 18, 2009 | Citizens State Bank | $168.6M |
| Dec 11, 2009 | Solutionsbank | $511.1M |
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