Bank Failure
The Riverbank
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Closed October 7, 2011 · Wyoming, MN · FDIC Cert #10216.
- Closing date
- October 7, 2011
- Headquarters
- Wyoming, MN
- FDIC Certificate
- 10216
- Total assets at closing
- $419.7M
- Total deposits at closing
- $384.1M
- Estimated loss to the insurance fund
- $71.2M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Central Bank
Context
On October 7, 2011, regulators closed The Riverbank, headquartered in Wyoming, MN. At closing, the institution held approximately $419.7M in assets and $384.1M in deposits. The FDIC record names Central Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $71.2M.
By assets at closing this is the 439th largest of the 3,526 bank failures in the FDIC record, and the 20th of 92 in 2011. 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 Riverbank fail?
The Riverbank was closed by regulators on October 7, 2011.
Who acquired The Riverbank?
The FDIC record names Central Bank as the acquiring institution in the resolution of The Riverbank.
How big was The Riverbank when it failed?
The Riverbank had approximately $419.7M in total assets and $384.1M in deposits at the time of failure.
Other failures in 2011
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 2011 | Western National Bank | $162.9M |
| Dec 16, 2011 | Premier Community Bank of the Emerald Coast | $126.0M |
| Nov 18, 2011 | Central Progressive Bank | $383.1M |
| Nov 18, 2011 | Polk County Bank | $91.6M |
| Nov 10, 2011 | Community Bank of Rockmart | $62.4M |
| Nov 4, 2011 | Sunfirst Bank | $198.1M |
| Nov 4, 2011 | Mid City Bank, Inc. | $106.1M |
| Oct 28, 2011 | All American Bank | $34.8M |
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