Bank Failure
Venture Bank
BankRegReports is independent of Venture Bank and never asks for online banking logins or passwords.
Closed September 11, 2009 · Lacey, WA · FDIC Cert #22868.
- Closing date
- September 11, 2009
- Headquarters
- Lacey, WA
- FDIC Certificate
- 22868
- Total assets at closing
- $968.4M
- Total deposits at closing
- $917.7M
- Estimated loss to the insurance fund
- $201.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First-Citizens Bank & Trust Company
Context
On September 11, 2009, regulators closed Venture Bank, headquartered in Lacey, WA. At closing, the institution held approximately $968.4M in assets and $917.7M in deposits. The FDIC record names First-Citizens Bank & Trust Company as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $201.1M.
By assets at closing this is the 222nd largest of the 3,526 bank failures in the FDIC record, and the 29th of 140 in 2009. 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 Venture Bank fail?
Venture Bank was closed by regulators on September 11, 2009.
Who acquired Venture Bank?
The FDIC record names First-Citizens Bank & Trust Company as the acquiring institution in the resolution of Venture Bank.
How big was Venture Bank when it failed?
Venture Bank had approximately $968.4M in total assets and $917.7M in deposits at the time of failure.
Other failures in 2009
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 2009 | First Federal Bank of California, a Federal Savings Bank | $6.14B |
| Dec 18, 2009 | Imperial Capital Bank | $4.05B |
| Dec 18, 2009 | Peoples First Community Bank | $1.80B |
| Dec 18, 2009 | New South Federal Savings Bank | $1.46B |
| Dec 18, 2009 | Independent Bankers' Bank | $585.5M |
| Dec 18, 2009 | Rockbridge Commercial Bank | $294.0M |
| Dec 18, 2009 | Citizens State Bank | $168.6M |
| Dec 11, 2009 | Solutionsbank | $511.1M |
Explore: all failures · WA bank events · 2009 events · events hub