Bank Failure
The Royal Palm Bank of Florida
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Closed July 20, 2012 · Naples, FL · FDIC Cert #57096.
- Closing date
- July 20, 2012
- Headquarters
- Naples, FL
- FDIC Certificate
- 57096
- Total assets at closing
- $78.8M
- Total deposits at closing
- $78.9M
- Estimated loss to the insurance fund
- $16.8M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First National Bank of the Gulf Coast
Context
On July 20, 2012, regulators closed The Royal Palm Bank of Florida, headquartered in Naples, FL. At closing, the institution held approximately $78.8M in assets and $78.9M in deposits. The FDIC record names First National Bank of the Gulf Coast as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $16.8M.
By assets at closing this is the 1348th largest of the 3,526 bank failures in the FDIC record, and the 40th of 51 in 2012. 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 Royal Palm Bank of Florida fail?
The Royal Palm Bank of Florida was closed by regulators on July 20, 2012.
Who acquired The Royal Palm Bank of Florida?
The FDIC record names First National Bank of the Gulf Coast as the acquiring institution in the resolution of The Royal Palm Bank of Florida.
How big was The Royal Palm Bank of Florida when it failed?
The Royal Palm Bank of Florida had approximately $78.8M in total assets and $78.9M in deposits at the time of failure.
Other failures in 2012
| Date | Bank | Assets |
|---|---|---|
| Dec 14, 2012 | Community Bank of the Ozarks | $42.8M |
| Nov 16, 2012 | Hometown Communitybank | $124.6M |
| Nov 2, 2012 | Citizens First National Bank | $924.0M |
| Nov 2, 2012 | Heritage Bank of Florida | $225.5M |
| Oct 26, 2012 | Nova Bank | $444.7M |
| Oct 19, 2012 | Excel Bank | $186.1M |
| Oct 19, 2012 | Gulfsouth Private Bank | $139.4M |
| Oct 19, 2012 | First East Side Savings Bank | $65.7M |
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