Bank Failure
Resolute Bank
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Closed October 25, 2019 · Maumee, OH · FDIC Cert #58317.
- Closing date
- October 25, 2019
- Headquarters
- Maumee, OH
- FDIC Certificate
- 58317
- Total assets at closing
- $23.3M
- Total deposits at closing
- $22.9M
- Estimated loss to the insurance fund
- $1.6M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Buckeye State Bank
Context
On October 25, 2019, regulators closed Resolute Bank, headquartered in Maumee, OH. At closing, the institution held approximately $23.3M in assets and $22.9M in deposits. The FDIC record names Buckeye State Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $1.6M.
By assets at closing this is the 2223rd largest of the 3,526 bank failures in the FDIC record, and the 4th of 4 in 2019. It falls in the period the record labels Post-Dodd-Frank Calm (2014-2022), a period with 47 failures peaking at 18 in 2014.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Resolute Bank fail?
Resolute Bank was closed by regulators on October 25, 2019.
Who acquired Resolute Bank?
The FDIC record names Buckeye State Bank as the acquiring institution in the resolution of Resolute Bank.
How big was Resolute Bank when it failed?
Resolute Bank had approximately $23.3M in total assets and $22.9M in deposits at the time of failure.
Other failures in 2019
| Date | Bank | Assets |
|---|---|---|
| Nov 1, 2019 | City National Bank of New Jersey | $120.6M |
| Oct 25, 2019 | Louisa Community Bank | $28.2M |
| May 31, 2019 | Enloe State Bank | $36.7M |
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