Bank Failure
Public Savings Bank
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Closed August 18, 2011 · Huntingdon Valley, PA · FDIC Cert #34130.
- Closing date
- August 18, 2011
- Headquarters
- Huntingdon Valley, PA
- FDIC Certificate
- 34130
- Total assets at closing
- $46.8M
- Total deposits at closing
- $45.8M
- Estimated loss to the insurance fund
- $15.8M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Capital Bank, N.A.
Context
On August 18, 2011, regulators closed Public Savings Bank, headquartered in Huntingdon Valley, PA. At closing, the institution held approximately $46.8M in assets and $45.8M in deposits. The FDIC record names Capital Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $15.8M.
By assets at closing this is the 1709th largest of the 3,526 bank failures in the FDIC record, and the 88th 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 Public Savings Bank fail?
Public Savings Bank was closed by regulators on August 18, 2011.
Who acquired Public Savings Bank?
The FDIC record names Capital Bank, N.A. as the acquiring institution in the resolution of Public Savings Bank.
How big was Public Savings Bank when it failed?
Public Savings Bank had approximately $46.8M in total assets and $45.8M 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 18, 2011 | Polk County Bank | $91.6M |
| 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 |
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