Bank Failure
Security Savings Bank
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Closed February 27, 2009 · Henderson, NV · FDIC Cert #34820.
- Closing date
- February 27, 2009
- Headquarters
- Henderson, NV
- FDIC Certificate
- 34820
- Total assets at closing
- $238.3M
- Total deposits at closing
- $174.9M
- Estimated loss to the insurance fund
- $32.3M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Bank of Nevada
Context
On February 27, 2009, regulators closed Security Savings Bank, headquartered in Henderson, NV. At closing, the institution held approximately $238.3M in assets and $174.9M in deposits. The FDIC record names Bank of Nevada as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $32.3M.
By assets at closing this is the 671st largest of the 3,526 bank failures in the FDIC record, and the 74th of 140 in 2009. 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 Savings Bank fail?
Security Savings Bank was closed by regulators on February 27, 2009.
Who acquired Security Savings Bank?
The FDIC record names Bank of Nevada as the acquiring institution in the resolution of Security Savings Bank.
How big was Security Savings Bank when it failed?
Security Savings Bank had approximately $238.3M in total assets and $174.9M in deposits at the time of failure.
Other failures in 2009
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 2009 | First Federal Bank of California, a Federal Savings Bank | $6.14B |
| Dec 18, 2009 | Imperial Capital Bank | $4.05B |
| Dec 18, 2009 | Peoples First Community Bank | $1.80B |
| Dec 18, 2009 | New South Federal Savings Bank | $1.46B |
| Dec 18, 2009 | Independent Bankers' Bank | $585.5M |
| Dec 18, 2009 | Rockbridge Commercial Bank | $294.0M |
| Dec 18, 2009 | Citizens State Bank | $168.6M |
| Dec 11, 2009 | Solutionsbank | $511.1M |
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