Bank Failure
Southwestusa Bank
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Closed July 23, 2010 · Las Vegas, NV · FDIC Cert #35434.
- Closing date
- July 23, 2010
- Headquarters
- Las Vegas, NV
- FDIC Certificate
- 35434
- Total assets at closing
- $203.7M
- Total deposits at closing
- $184.0M
- Estimated loss to the insurance fund
- $86.3M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Plaza Bank
Context
On July 23, 2010, regulators closed Southwestusa Bank, headquartered in Las Vegas, NV. At closing, the institution held approximately $203.7M in assets and $184.0M in deposits. The FDIC record names Plaza Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $86.3M.
By assets at closing this is the 768th largest of the 3,526 bank failures in the FDIC record, and the 93rd of 157 in 2010. 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 Southwestusa Bank fail?
Southwestusa Bank was closed by regulators on July 23, 2010.
Who acquired Southwestusa Bank?
The FDIC record names Plaza Bank as the acquiring institution in the resolution of Southwestusa Bank.
How big was Southwestusa Bank when it failed?
Southwestusa Bank had approximately $203.7M in total assets and $184.0M in deposits at the time of failure.
Other failures in 2010
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2010 | The Bank of Miami | $448.1M |
| Dec 17, 2010 | Chestatee State Bank | $244.4M |
| Dec 17, 2010 | United Americas Bank | $242.3M |
| Dec 17, 2010 | First Southern Bank | $191.8M |
| Dec 17, 2010 | Appalacian Community Bank, F.S.B. | $68.2M |
| Dec 17, 2010 | Community National Bank | $31.6M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Dec 10, 2010 | Earthstar Bank | $112.6M |
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