Bank Failure
United Western Bank
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Closed January 21, 2011 · Denver, CO · FDIC Cert #31293.
- Closing date
- January 21, 2011
- Headquarters
- Denver, CO
- FDIC Certificate
- 31293
- Total assets at closing
- $2.15B
- Total deposits at closing
- $1.54B
- Estimated loss to the insurance fund
- $133.2M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First-Citizens Bank and Trust Company
Context
On January 21, 2011, regulators closed United Western Bank, headquartered in Denver, CO. At closing, the institution held approximately $2.15B in assets and $1.54B in deposits. The FDIC record names First-Citizens Bank and Trust Company as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $133.2M.
By assets at closing this is the 102nd largest of the 3,526 bank failures in the FDIC record, and the 3rd 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 United Western Bank fail?
United Western Bank was closed by regulators on January 21, 2011.
Who acquired United Western Bank?
The FDIC record names First-Citizens Bank and Trust Company as the acquiring institution in the resolution of United Western Bank.
How big was United Western Bank when it failed?
United Western Bank had approximately $2.15B in total assets and $1.54B 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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