Bank Failure
USA Bank
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Closed July 9, 2010 · Port Chester, NY · FDIC Cert #58072.
- Closing date
- July 9, 2010
- Headquarters
- Port Chester, NY
- FDIC Certificate
- 58072
- Total assets at closing
- $190.7M
- Total deposits at closing
- $188.6M
- Estimated loss to the insurance fund
- $63.5M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- New Century Bank
Context
On July 9, 2010, regulators closed USA Bank, headquartered in Port Chester, NY. At closing, the institution held approximately $190.7M in assets and $188.6M in deposits. The FDIC record names New Century Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $63.5M.
By assets at closing this is the 799th largest of the 3,526 bank failures in the FDIC record, and the 97th 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 USA Bank fail?
USA Bank was closed by regulators on July 9, 2010.
Who acquired USA Bank?
The FDIC record names New Century Bank as the acquiring institution in the resolution of USA Bank.
How big was USA Bank when it failed?
USA Bank had approximately $190.7M in total assets and $188.6M 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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