Bank Failure
Peoples First Community Bank
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Closed December 18, 2009 · Panama City, FL · FDIC Cert #32167.
- Closing date
- December 18, 2009
- Headquarters
- Panama City, FL
- FDIC Certificate
- 32167
- Total assets at closing
- $1.80B
- Total deposits at closing
- $1.68B
- Estimated loss to the insurance fund
- $597.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Hancock Bank
Context
On December 18, 2009, regulators closed Peoples First Community Bank, headquartered in Panama City, FL. At closing, the institution held approximately $1.80B in assets and $1.68B in deposits. The FDIC record names Hancock Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $597.1M.
By assets at closing this is the 123rd largest of the 3,526 bank failures in the FDIC record, and the 17th 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 Peoples First Community Bank fail?
Peoples First Community Bank was closed by regulators on December 18, 2009.
Who acquired Peoples First Community Bank?
The FDIC record names Hancock Bank as the acquiring institution in the resolution of Peoples First Community Bank.
How big was Peoples First Community Bank when it failed?
Peoples First Community Bank had approximately $1.80B in total assets and $1.68B 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 | 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 |
| Dec 11, 2009 | Republic Federal Bank, N.A. | $433.0M |
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