Bank Failure
R-G Premier Bank of Puerto Rico
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Closed April 30, 2010 · Hato Rey, PR · FDIC Cert #32185.
- Closing date
- April 30, 2010
- Headquarters
- Hato Rey, PR
- FDIC Certificate
- 32185
- Total assets at closing
- $5.68B
- Total deposits at closing
- $4.22B
- Estimated loss to the insurance fund
- $978.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Scotiabank De Puerto Rico
Context
On April 30, 2010, regulators closed R-G Premier Bank of Puerto Rico, headquartered in Hato Rey, PR. At closing, the institution held approximately $5.68B in assets and $4.22B in deposits. The FDIC record names Scotiabank De Puerto Rico as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $978.1M.
By assets at closing this is the 35th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 157 in 2010. 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 R-G Premier Bank of Puerto Rico fail?
R-G Premier Bank of Puerto Rico was closed by regulators on April 30, 2010.
Who acquired R-G Premier Bank of Puerto Rico?
The FDIC record names Scotiabank De Puerto Rico as the acquiring institution in the resolution of R-G Premier Bank of Puerto Rico.
How big was R-G Premier Bank of Puerto Rico when it failed?
R-G Premier Bank of Puerto Rico had approximately $5.68B in total assets and $4.22B in deposits at the time of failure.
Other failures in 2010
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2010 | The Bank of Miami | $448.1M |
| Dec 17, 2010 | Chestatee State Bank | $244.4M |
| Dec 17, 2010 | United Americas Bank | $242.3M |
| Dec 17, 2010 | First Southern Bank | $191.8M |
| Dec 17, 2010 | Appalacian Community Bank, F.S.B. | $68.2M |
| Dec 17, 2010 | Community National Bank | $31.6M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Dec 10, 2010 | Earthstar Bank | $112.6M |
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