Bank Failure
Pulaski Savings Bank
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Closed November 14, 2003 · Philadelphia, PA · FDIC Cert #27203.
- Closing date
- November 14, 2003
- Headquarters
- Philadelphia, PA
- FDIC Certificate
- 27203
- Total assets at closing
- $8.5M
- Total deposits at closing
- $9.1M
- Estimated loss to the insurance fund
- $679K
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Earthstar Bank
Context
On November 14, 2003, regulators closed Pulaski Savings Bank, headquartered in Philadelphia, PA. At closing, the institution held approximately $8.5M in assets and $9.1M in deposits. The FDIC record names Earthstar Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $679K.
By assets at closing this is the 2845th largest of the 3,526 bank failures in the FDIC record, and the 3rd of 3 in 2003. It falls in the period the record labels Consolidation Calm (1996-2007), a period with 50 failures peaking at 11 in 2002.
Riegle-Neal interstate-banking era. Industry consolidated rapidly via merger; failure counts dropped to single digits per year.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Pulaski Savings Bank fail?
Pulaski Savings Bank was closed by regulators on November 14, 2003.
Who acquired Pulaski Savings Bank?
The FDIC record names Earthstar Bank as the acquiring institution in the resolution of Pulaski Savings Bank.
How big was Pulaski Savings Bank when it failed?
Pulaski Savings Bank had approximately $8.5M in total assets and $9.1M in deposits at the time of failure.
Other failures in 2003
| Date | Bank | Assets |
|---|---|---|
| May 9, 2003 | The First National Bank of Blanchardville | $34.5M |
| Feb 7, 2003 | Southern Pacific Bank | $904.3M |
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