Bank Failure
Palm Desert National Bank
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Closed April 27, 2012 · Palm Desert, CA · FDIC Cert #23632.
- Closing date
- April 27, 2012
- Headquarters
- Palm Desert, CA
- FDIC Certificate
- 23632
- Total assets at closing
- $129.3M
- Total deposits at closing
- $129.0M
- Estimated loss to the insurance fund
- $26.3M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Pacific Premier Bank
Context
On April 27, 2012, regulators closed Palm Desert National Bank, headquartered in Palm Desert, CA. At closing, the institution held approximately $129.3M in assets and $129.0M in deposits. The FDIC record names Pacific Premier Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $26.3M.
By assets at closing this is the 1046th largest of the 3,526 bank failures in the FDIC record, and the 31st 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 Palm Desert National Bank fail?
Palm Desert National Bank was closed by regulators on April 27, 2012.
Who acquired Palm Desert National Bank?
The FDIC record names Pacific Premier Bank as the acquiring institution in the resolution of Palm Desert National Bank.
How big was Palm Desert National Bank when it failed?
Palm Desert National Bank had approximately $129.3M in total assets and $129.0M 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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