Bank Failure
The La Coste National Bank
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Closed February 19, 2010 · La Coste, TX · FDIC Cert #3287.
- Closing date
- February 19, 2010
- Headquarters
- La Coste, TX
- FDIC Certificate
- 3287
- Total assets at closing
- $53.9M
- Total deposits at closing
- $49.3M
- Estimated loss to the insurance fund
- $5.7M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Community National Bank
Context
On February 19, 2010, regulators closed The La Coste National Bank, headquartered in La Coste, TX. At closing, the institution held approximately $53.9M in assets and $49.3M in deposits. The FDIC record names Community National Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $5.7M.
By assets at closing this is the 1595th largest of the 3,526 bank failures in the FDIC record, and the 141st 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 La Coste National Bank fail?
The La Coste National Bank was closed by regulators on February 19, 2010.
Who acquired The La Coste National Bank?
The FDIC record names Community National Bank as the acquiring institution in the resolution of The La Coste National Bank.
How big was The La Coste National Bank when it failed?
The La Coste National Bank had approximately $53.9M in total assets and $49.3M 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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