Bank Failure
PROFICIO BANK
Closed March 3, 2017 · COTTONWOOD HEIGHTS, UT · FDIC Cert #35495.
- Closing date
- March 3, 2017
- Headquarters
- COTTONWOOD HEIGHTS, UT
- FDIC Certificate
- 35495
- Total assets at closing
- $68,208,000
- Total deposits at closing
- $65,042,000
- Estimated loss to DIF
- $10,121,000
- Resolution type
- other
- Acquirer
- CACHE VALLEY BANK (FDIC Cert #10525)
Context
On March 3, 2017, regulators closed PROFICIO BANK, headquartered in COTTONWOOD HEIGHTS, UT. At closing, the institution held approximately $68,208,000 in assets and $65,042,000 in deposits. The FDIC arranged a resolution under which CACHE VALLEY BANK acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $10,121,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 2017
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 2017-12-15 | WASHINGTON FEDERAL BANK FOR SAVINGS | CHICAGO, IL | $166,345,000 |
| 2017-10-13 | THE FARMERS AND MERCHANTS STATE BANK OF ARGONIA | ARGONIA, KS | $33,012,000 |
| 2017-05-26 | FAYETTE COUNTY BANK | SAINT ELMO, IL | $34,370,000 |
| 2017-05-05 | GUARANTY BANK | MILWAUKEE, WI | $1,031,900,000 |
| 2017-04-28 | FIRST NBC BANK | NEW ORLEANS, LA | $3,325,870,000 |
| 2017-01-27 | SEAWAY BANK AND TRUST COMPANY | CHICAGO, IL | $297,809,000 |
| 2017-01-13 | HARVEST COMMUNITY BANK | PENNSVILLE, NJ | $124,223,000 |
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