Bank Failure
Polk County Bank
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Closed November 18, 2011 · Johnston, IA · FDIC Cert #14194.
- Closing date
- November 18, 2011
- Headquarters
- Johnston, IA
- FDIC Certificate
- 14194
- Total assets at closing
- $91.6M
- Total deposits at closing
- $82.0M
- Estimated loss to the insurance fund
- $16.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Grinnell State Bank
Context
On November 18, 2011, regulators closed Polk County Bank, headquartered in Johnston, IA. At closing, the institution held approximately $91.6M in assets and $82.0M in deposits. The FDIC record names Grinnell State Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $16.1M.
By assets at closing this is the 1258th largest of the 3,526 bank failures in the FDIC record, and the 79th of 92 in 2011. 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 Polk County Bank fail?
Polk County Bank was closed by regulators on November 18, 2011.
Who acquired Polk County Bank?
The FDIC record names Grinnell State Bank as the acquiring institution in the resolution of Polk County Bank.
How big was Polk County Bank when it failed?
Polk County Bank had approximately $91.6M in total assets and $82.0M in deposits at the time of failure.
Other failures in 2011
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 2011 | Western National Bank | $162.9M |
| Dec 16, 2011 | Premier Community Bank of the Emerald Coast | $126.0M |
| Nov 18, 2011 | Central Progressive Bank | $383.1M |
| Nov 10, 2011 | Community Bank of Rockmart | $62.4M |
| Nov 4, 2011 | Sunfirst Bank | $198.1M |
| Nov 4, 2011 | Mid City Bank, Inc. | $106.1M |
| Oct 28, 2011 | All American Bank | $34.8M |
| Oct 21, 2011 | Community Banks of Colorado | $1.28B |
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