Bank Failure
Security Bank, N.A.
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Closed May 4, 2012 · North Lauderdale, FL · FDIC Cert #23156.
- Closing date
- May 4, 2012
- Headquarters
- North Lauderdale, FL
- FDIC Certificate
- 23156
- Total assets at closing
- $101.0M
- Total deposits at closing
- $99.1M
- Estimated loss to the insurance fund
- $15.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Banesco USA
Context
On May 4, 2012, regulators closed Security Bank, N.A., headquartered in North Lauderdale, FL. At closing, the institution held approximately $101.0M in assets and $99.1M in deposits. The FDIC record names Banesco USA as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $15.1M.
By assets at closing this is the 1193rd largest of the 3,526 bank failures in the FDIC record, and the 35th of 51 in 2012. 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 Security Bank, N.A. fail?
Security Bank, N.A. was closed by regulators on May 4, 2012.
Who acquired Security Bank, N.A.?
The FDIC record names Banesco USA as the acquiring institution in the resolution of Security Bank, N.A.
How big was Security Bank, N.A. when it failed?
Security Bank, N.A. had approximately $101.0M in total assets and $99.1M in deposits at the time of failure.
Other failures in 2012
| Date | Bank | Assets |
|---|---|---|
| Dec 14, 2012 | Community Bank of the Ozarks | $42.8M |
| Nov 16, 2012 | Hometown Communitybank | $124.6M |
| Nov 2, 2012 | Citizens First National Bank | $924.0M |
| Nov 2, 2012 | Heritage Bank of Florida | $225.5M |
| Oct 26, 2012 | Nova Bank | $444.7M |
| Oct 19, 2012 | Excel Bank | $186.1M |
| Oct 19, 2012 | Gulfsouth Private Bank | $139.4M |
| Oct 19, 2012 | First East Side Savings Bank | $65.7M |
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