Portal Seven | Banks Acquiring Failed Banks : Details of bank Acquisition

Banks Acquiring Failed Banks

Enter Bank Name : Search

ALL 2011 2010 2009 2008 Big Banks Medium Banks Small Banks

Banks failed in 2011

# 378

Failed Bank	:	Southshore Community Bank - Apollo Beach, Florida
Date Closed	:	July 22, 2011
Assets	:	$46.3 million
Deposits	:	$45.3 million

Acquiring Bank	:	American Momentum Bank - Tampa, Florida
Assets Purchased	:	$46.3 million
Deposits Purchased	:	$45.3 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	-
Cost to the Deposit Insurance Fund	:	$8.3 million

Notes

As of March 31, 2011, Southshore Community Bank had approximately $46.3 million in total assets and $45.3 million in total deposits.

# 377

Failed Bank	:	Summit Bank - Prescott, Arizona
Date Closed	:	July 15, 2011
Assets	:	$72.0 million
Deposits	:	$66.4 million

Acquiring Bank	:	The Foothills Bank - Yuma, Arizona
Assets Purchased	:	$72.0 million
Deposits Purchased	:	$66.4 million
Premium paid for acquiring deposits	:	0.25 percent
Loss Sharing Agreement with FDIC for assets	:	-
Cost to the Deposit Insurance Fund	:	$11.3 million

Notes

As of March 31, 2011, Summit Bank had approximately $72.0 million in total assets and $66.4 million in total deposits. The Foothills Bank will pay the FDIC a premium of 0.25 percent to assume all of the deposits of Summit Bank. In addition to assuming all of the deposits of the failed bank, The Foothills Bank agreed to purchase essentially all of the assets.

# 376

Failed Bank	:	First Peoples Bank - Port St. Lucie, Florida
Date Closed	:	July 15, 2011
Assets	:	$228.3 million
Deposits	:	$209.7 million

Acquiring Bank	:	Premier American Bank, National Association - Miami, Florida
Assets Purchased	:	$228.3 million
Deposits Purchased	:	$209.7 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	-
Cost to the Deposit Insurance Fund	:	$7.4 million

Notes

As of March 31, 2011, First Peoples Bank had approximately $228.3 million in total assets and $209.7 million in total deposits. In addition to assuming all of the deposits of the failed bank, Premier American Bank agreed to purchase essentially all of the assets.

# 375

Failed Bank	:	High Trust Bank - Stockbridge, Georgia
Date Closed	:	July 15, 2011
Assets	:	$192.5 million
Deposits	:	$189.5 million

Acquiring Bank	:	Ameris Bank - Moultrie, Georgia
Assets Purchased	:	$192.5 million
Deposits Purchased	:	$189.5 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	$164.8 million
Cost to the Deposit Insurance Fund	:	$66.0 million

Notes

As of March 31, 2011, High Trust Bank had total assets of $192.5 million and total deposits of $189.5 million.

# 374

Failed Bank	:	One Georgia Bank - Atlanta, Georgia
Date Closed	:	July 15, 2011
Assets	:	$186.3 million
Deposits	:	$162.1 million

Acquiring Bank	:	Ameris Bank - Moultrie, Georgia
Assets Purchased	:	$186.3 million
Deposits Purchased	:	$162.1 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	$146.3 million
Cost to the Deposit Insurance Fund	:	$44.4 million

Notes

As of March 31, 2011, One Georgia Bank had total assets of $186.3 million and total deposits of $162.1 million.

# 373

Failed Bank	:	Signature Bank - Windsor, Colorado
Date Closed	:	July 08, 2011
Assets	:	$66.7 million
Deposits	:	$64.5 million

Acquiring Bank	:	Points West Community Bank - Julesburg, Colorado
Assets Purchased	:	$66.7 million
Deposits Purchased	:	$64.5 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	-
Cost to the Deposit Insurance Fund	:	$22.3 million

Notes

As of March 31, 2011, Signature Bank had approximately $66.7 million in total assets and $64.5 million in total deposits. In addition to assuming all of the deposits of the failed bank, Points West Community Bank agreed to purchase essentially all of the assets.

# 372

Failed Bank	:	Colorado Capital Bank - Castle Rock , Colorado
Date Closed	:	July 08, 2011
Assets	:	$717.5 million
Deposits	:	$672.8 million

Acquiring Bank	:	First-Citizens Bank & Trust Company - Raleigh, North Carolina
Assets Purchased	:	$717.5 million
Deposits Purchased	:	$672.8 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	$580.0 million
Cost to the Deposit Insurance Fund	:	$283.8 million

Notes

As of March 31, 2011, Colorado Capital Bank had approximately $717.5 million in total assets and $672.8 million in total deposits. In addition to assuming all of the deposits of the failed bank, First-Citizens Bank & Trust Company agreed to purchase essentially all of the assets

# 371

Failed Bank	:	First Chicago Bank & Trust - Chicago, Illinois
Date Closed	:	July 08, 2011
Assets	:	$959.3 million
Deposits	:	$887.5 million

Acquiring Bank	:	Northbrook Bank & Trust Company - Northbrook, Illinois
Assets Purchased	:	$880.7 million
Deposits Purchased	:	$887.5 million
Premium paid for acquiring deposits	:	0.50 percent
Loss Sharing Agreement with FDIC for assets	:	$699.8 million
Cost to the Deposit Insurance Fund	:	$284.3 million

Notes

As of March 31, 2011, First Chicago Bank & Trust had approximately $959.3 million in total assets and $887.5 million in total deposits. Northbrook Bank & Trust Company will pay the FDIC a premium of 0.50 percent to assume all of the deposits of First Chicago Bank & Trust. In addition to assuming all of the deposits of the failed bank, Northbrook Bank & Trust Company agreed to purchase approximately $880.7 million of the failed bank's assets.

# 370

Failed Bank	:	Mountain Heritage Bank - Clayton, Georgia
Date Closed	:	June 24, 2011
Assets	:	$103.7 million
Deposits	:	$89.6 million

Acquiring Bank	:	First American Bank and Trust Company - Athens, Georgia
Assets Purchased	:	$103.7 million
Deposits Purchased	:	$89.6 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	$69.2 million
Cost to the Deposit Insurance Fund	:	$41.1 million

Notes

As of March 31, 2011, Mountain Heritage Bank had approximately $103.7 million in total assets and $89.6 million in total deposits. In addition to assuming all of the deposits of the failed bank, First American Bank and Trust Company agreed to purchase essentially all of the assets.

# 369

Failed Bank	:	First Commercial Bank of Tampa Bay - Tampa, Florida
Date Closed	:	June 17, 2011
Assets	:	$98.6 million
Deposits	:	$92.6 million

Acquiring Bank	:	Stonegate Bank - Fort Lauderdale, Florida
Assets Purchased	:	$98.6 million
Deposits Purchased	:	$92.6 million
Premium paid for acquiring deposits	:	0.50 percent
Loss Sharing Agreement with FDIC for assets	:	-
Cost to the Deposit Insurance Fund	:	$28.5 million

Notes

As of March 31, 2011, First Commercial Bank of Tampa Bay had approximately $98.6 million in total assets and $92.6 million in total deposits. Stonegate Bank will pay the FDIC a premium of 0.50 percent to assume all of the deposits of First Commercial Bank of Tampa Bay. In addition to assuming all of the deposits of the failed bank, Stonegate Bank agreed to purchase essentially all of the assets.