Bank Failure
Valley Bank
Closed June 20, 2014 · Fort Lauderdale, FL · FDIC Cert #21793.
- Closing date
- June 20, 2014
- Headquarters
- Fort Lauderdale, FL
- FDIC Certificate
- 21793
- Total assets at closing
- $81.8M
- Total deposits at closing
- $66.5M
- Estimated loss to DIF
- $5.4M
- Resolution
- Failure (closed by regulators)
- Acquirer
- Landmark Bank, N.A.
Context
On June 20, 2014, regulators closed Valley Bank, headquartered in Fort Lauderdale, FL. At closing, the institution held approximately $81.8M in assets and $66.5M in deposits. The FDIC arranged a resolution under which Landmark Bank, N.A. acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $5.4M.
By assets at closing this is the 1321st largest of the 3,524 bank failures in the FDIC record, and the 9th of 18 in 2014. It falls in the period the record labels Post-Dodd-Frank Calm (2014-2022), a period with 47 failures peaking at 18 in 2014.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Valley Bank fail?
Valley Bank was closed by regulators on June 20, 2014.
Who acquired Valley Bank?
Landmark Bank, N.A. acquired the failed bank's deposits and operations on June 20, 2014 under an FDIC-brokered resolution.
How big was Valley Bank when it failed?
Valley Bank had approximately $81.8M in total assets and $66.5M in deposits at the time of failure.
Other failures in 2014
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 2014 | Northern Star Bank | $18.8M |
| Nov 7, 2014 | Frontier Bank, FSB | $80.7M |
| Oct 24, 2014 | The National Republic Bank of Chicago | $843.1M |
| Oct 17, 2014 | NBRS Financial Bank | $155.4M |
| Jul 25, 2014 | Greenchoice Bank, FSB | $70.3M |
| Jul 18, 2014 | Eastside Commercial Bank | $173.9M |
| Jun 27, 2014 | The Freedom State Bank | $22.8M |
| Jun 20, 2014 | Valley Bank | $456.4M |
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