Bank Failure
Sanderson State Bank
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Closed December 12, 2008 · Sanderson, TX · FDIC Cert #11568.
- Closing date
- December 12, 2008
- Headquarters
- Sanderson, TX
- FDIC Certificate
- 11568
- Total assets at closing
- $38.2M
- Total deposits at closing
- $32.0M
- Estimated loss to the insurance fund
- $7.7M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- The Pecos County Bank
Context
On December 12, 2008, regulators closed Sanderson State Bank, headquartered in Sanderson, TX. At closing, the institution held approximately $38.2M in assets and $32.0M in deposits. The FDIC record names The Pecos County Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $7.7M.
By assets at closing this is the 1850th largest of the 3,526 bank failures in the FDIC record, and the 24th of 25 in 2008. 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 Sanderson State Bank fail?
Sanderson State Bank was closed by regulators on December 12, 2008.
Who acquired Sanderson State Bank?
The FDIC record names The Pecos County Bank as the acquiring institution in the resolution of Sanderson State Bank.
How big was Sanderson State Bank when it failed?
Sanderson State Bank had approximately $38.2M in total assets and $32.0M in deposits at the time of failure.
Other failures in 2008
| Date | Bank | Assets |
|---|---|---|
| Dec 12, 2008 | Haven Trust Bank | $559.6M |
| Dec 5, 2008 | First Georgia Community Bank | $256.4M |
| Nov 21, 2008 | Downey Savings and Loan Association, F.A. | $12.78B |
| Nov 21, 2008 | PFF Bank & Trust | $3.72B |
| Nov 21, 2008 | The Community Bank | $634.9M |
| Nov 7, 2008 | Franklin Bank, SSB | $5.09B |
| Nov 7, 2008 | Security Pacific Bank | $528.0M |
| Oct 31, 2008 | Freedom Bank | $270.8M |
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