Bank Failure
Sinclair National Bank
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Closed September 7, 2001 · Gravette, AR · FDIC Cert #34248.
- Closing date
- September 7, 2001
- Headquarters
- Gravette, AR
- FDIC Certificate
- 34248
- Total assets at closing
- $29.8M
- Total deposits at closing
- $26.1M
- Estimated loss to the insurance fund
- $4.2M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Delta Trust & Bank
Context
On September 7, 2001, regulators closed Sinclair National Bank, headquartered in Gravette, AR. At closing, the institution held approximately $29.8M in assets and $26.1M in deposits. The FDIC record names Delta Trust & Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $4.2M.
By assets at closing this is the 2055th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 4 in 2001. It falls in the period the record labels Consolidation Calm (1996-2007), a period with 50 failures peaking at 11 in 2002.
Riegle-Neal interstate-banking era. Industry consolidated rapidly via merger; failure counts dropped to single digits per year.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Sinclair National Bank fail?
Sinclair National Bank was closed by regulators on September 7, 2001.
Who acquired Sinclair National Bank?
The FDIC record names Delta Trust & Bank as the acquiring institution in the resolution of Sinclair National Bank.
How big was Sinclair National Bank when it failed?
Sinclair National Bank had approximately $29.8M in total assets and $26.1M in deposits at the time of failure.
Other failures in 2001
| Date | Bank | Assets |
|---|---|---|
| Jul 27, 2001 | Superior Bank, FSB | $1.77B |
| May 3, 2001 | Malta National Bank | $9.1M |
| Feb 2, 2001 | First Alliance Bank and Trust Co | $17.4M |
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