Bank Failure
The Bank of Bonifay
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Closed May 7, 2010 · Bonifay, FL · FDIC Cert #14246.
- Closing date
- May 7, 2010
- Headquarters
- Bonifay, FL
- FDIC Certificate
- 14246
- Total assets at closing
- $242.9M
- Total deposits at closing
- $230.2M
- Estimated loss to the insurance fund
- $65.9M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Federal Bank of Florida
Context
On May 7, 2010, regulators closed The Bank of Bonifay, headquartered in Bonifay, FL. At closing, the institution held approximately $242.9M in assets and $230.2M in deposits. The FDIC record names First Federal Bank of Florida as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $65.9M.
By assets at closing this is the 657th largest of the 3,526 bank failures in the FDIC record, and the 83rd 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 The Bank of Bonifay fail?
The Bank of Bonifay was closed by regulators on May 7, 2010.
Who acquired The Bank of Bonifay?
The FDIC record names First Federal Bank of Florida as the acquiring institution in the resolution of The Bank of Bonifay.
How big was The Bank of Bonifay when it failed?
The Bank of Bonifay had approximately $242.9M in total assets and $230.2M 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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