Bank Failure
Westbridge Bank and Trust Company
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Closed October 15, 2010 · Chesterfield, MO · FDIC Cert #58205.
- Closing date
- October 15, 2010
- Headquarters
- Chesterfield, MO
- FDIC Certificate
- 58205
- Total assets at closing
- $87.8M
- Total deposits at closing
- $70.1M
- Estimated loss to the insurance fund
- $22.4M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Midland States Bank
Context
On October 15, 2010, regulators closed Westbridge Bank and Trust Company, headquartered in Chesterfield, MO. At closing, the institution held approximately $87.8M in assets and $70.1M in deposits. The FDIC record names Midland States Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $22.4M.
By assets at closing this is the 1279th largest of the 3,526 bank failures in the FDIC record, and the 128th 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 Westbridge Bank and Trust Company fail?
Westbridge Bank and Trust Company was closed by regulators on October 15, 2010.
Who acquired Westbridge Bank and Trust Company?
The FDIC record names Midland States Bank as the acquiring institution in the resolution of Westbridge Bank and Trust Company.
How big was Westbridge Bank and Trust Company when it failed?
Westbridge Bank and Trust Company had approximately $87.8M in total assets and $70.1M 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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