Bank Failure
PROGRESS BANK OF FLORIDA
Closed October 22, 2010 · TAMPA, FL · FDIC Cert #32251.
- Closing date
- October 22, 2010
- Headquarters
- TAMPA, FL
- FDIC Certificate
- 32251
- Total assets at closing
- $94,823,000
- Total deposits at closing
- $86,861,000
- Estimated loss to DIF
- $34,562,000
- Resolution type
- other
- Acquirer
- BAY CITIES BANK (FDIC Cert #10303)
Context
On October 22, 2010, regulators closed PROGRESS BANK OF FLORIDA, headquartered in TAMPA, FL. At closing, the institution held approximately $94,823,000 in assets and $86,861,000 in deposits. The FDIC arranged a resolution under which BAY CITIES BANK acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $34,562,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 2010
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 2010-12-17 | THE BANK OF MIAMI | CORAL GABLES, FL | $448,150,000 |
| 2010-12-17 | CHESTATEE STATE BANK | DAWSONVILLE, GA | $244,376,000 |
| 2010-12-17 | UNITED AMERICAS BANK | ATLANTA, GA | $242,339,000 |
| 2010-12-17 | FIRST SOUTHERN BANK | BATESVILLE, AR | $191,764,000 |
| 2010-12-17 | APPALACIAN COMMUNITY BANK, F.S.B. | MCCAYSVILLE, GA | $68,201,000 |
| 2010-12-17 | COMMUNITY NATIONAL BANK | LINO LAKES, MN | $31,569,000 |
| 2010-12-10 | PARAMOUNT BANK | FARMINGTON HILLS, MI | $252,744,000 |
| 2010-12-10 | EARTHSTAR BANK | SOUTHAMPTON, PA | $112,643,000 |
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