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

Banks Acquiring Failed Banks

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ALL 2011 2010 2009 2008 Big Banks Medium Banks Small Banks

Banks failed in 2011

# 348

Failed Bank	:	The Bank of Commerce - Wood Dale, Illinois
Date Closed	:	March 25, 2011
Assets	:	$163.1 million
Deposits	:	$161.4 million

Acquiring Bank	:	Advantage National Bank Group - Elk Grove Village, Illinois
Assets Purchased	:	$163.1 million
Deposits Purchased	:	$161.4 million
Premium paid for acquiring deposits	:	0.10 percent
Loss Sharing Agreement with FDIC for assets	:	$145.7 million
Cost to the Deposit Insurance Fund	:	$41.9 million

Notes

As of December 31, 2010, The Bank of Commerce had approximately $163.1 million in total assets and $161.4 million in total deposits. In addition to paying a premium of 0.10% to assume all of the deposits of the failed bank, Advantage National Bank Group agreed to purchase essentially all of the failed bank's assets.

# 347

Failed Bank	:	Legacy Bank - Milwaukee, Wisconsin
Date Closed	:	March 11, 2011
Assets	:	$190.4 million
Deposits	:	$183.3 million

Acquiring Bank	:	Seaway Bank and Trust Company - Chicago, Illinois
Assets Purchased	:	$165.9 million
Deposits Purchased	:	$183.3 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	-
Cost to the Deposit Insurance Fund	:	$43.5 million

Notes

As of December 31, 2010, Legacy Bank had approximately $190.4 million in total assets and $183.3 million in total deposits. In addition to assuming all of the deposits of the failed bank, Seaway Bank and Trust Company agreed to purchase approximately $165.9 million of Legacy Bank's assets. The FDIC will retain the remaining assets for later disposition.

# 346

Failed Bank	:	First National Bank of Davis - Davis, Oklahoma
Date Closed	:	March 11, 2011
Assets	:	$90.2 million
Deposits	:	$68.3 million

Acquiring Bank	:	The Pauls Valley National Bank - Pauls Valley, Oklahoma
Assets Purchased	:	$28.5 million
Deposits Purchased	:	$68.3 million
Premium paid for acquiring deposits	:	7.5 percent
Loss Sharing Agreement with FDIC for assets	:	-
Cost to the Deposit Insurance Fund	:	$26.5 million

Notes

As of December 31, 2010, The First National Bank of Davis had approximately $90.2 million in total assets and $68.3 million in total deposits. In addition to paying a premium of 7.5% to assume all of the deposits of the failed bank, The Pauls Valley National Bank agreed to purchase approximately $28.5 million of The First National Bank of Davis' assets. The FDIC will retain the remaining assets for later disposition.

# 345

Failed Bank	:	Valley Community Bank - St. Charles, Illinois
Date Closed	:	February 25, 2011
Assets	:	$123.8 million
Deposits	:	$124.2 million

Acquiring Bank	:	First State Bank - Mendota, Illinois
Assets Purchased	:	$123.8 million
Deposits Purchased	:	$124.2 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	-
Cost to the Deposit Insurance Fund	:	$22.8 million

Notes

As of December 31, 2010, Valley Community Bank had approximately $123.8 million in total assets and $124.2 million in total deposits. In addition to assuming all of the deposits of the failed bank, First State Bank agreed to purchase essentially all of the assets.

# 344

Failed Bank	:	San Luis Trust Bank, FSB - San Luis Obispo, California
Date Closed	:	February 18, 2011
Assets	:	$332.6 million
Deposits	:	$272.2 million

Acquiring Bank	:	First California Bank - Westlake Village
Assets Purchased	:	$332.6 million
Deposits Purchased	:	$272.2 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	$241.7 million
Cost to the Deposit Insurance Fund	:	$96.1 million

Notes

As of December 31, 2010, San Luis Trust Bank, FSB had approximately $332.6 million in total assets and $272.2 million in total deposits. In addition to assuming all of the deposits of the failed bank, First California Bank agreed to purchase essentially all of the assets.

# 343

Failed Bank	:	Charter Oak Bank - Napa, California
Date Closed	:	February 18, 2011
Assets	:	$120.8 million
Deposits	:	$105.3 million

Acquiring Bank	:	Bank of Marin - Novato, California
Assets Purchased	:	$92.3 million
Deposits Purchased	:	$105.3 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	-
Cost to the Deposit Insurance Fund	:	$21.8 million

Notes

As of December 31, 2010, Charter Oak Bank had approximately $120.8 million in total assets and $105.3 million in total deposits. The FDIC will retain $28.5 million of the assets for later disposition.

# 342

Failed Bank	:	Citizens Bank of Effingham - Springfield, Georgia
Date Closed	:	February 18, 2011
Assets	:	$214.3 million
Deposits	:	$206.5 million

Acquiring Bank	:	HeritageBank of the South - Albany, Georgia
Assets Purchased	:	$214.3 million
Deposits Purchased	:	$206.5 million
Premium paid for acquiring deposits	:	1.0 percent
Loss Sharing Agreement with FDIC for assets	:	$158.1 million
Cost to the Deposit Insurance Fund	:	$59.4 million

Notes

As of December 31, 2010, Citizens Bank of Effingham had approximately $214.3 million in total assets and $206.5 million in total deposits. HeritageBank of the South will pay the FDIC a premium of 1.0 percent to assume all of the deposits of Citizens Bank of Effingham. In addition to assuming all of the deposits of the failed bank, HeritageBank of the South agreed to purchase essentially all of the assets.

# 341

Failed Bank	:	Habersham Bank - Clarkesville, Georgia
Date Closed	:	February 18, 2011
Assets	:	$387.6 million
Deposits	:	$339.9 million

Acquiring Bank	:	SCBT National Association - Orangeburg, South Carolina
Assets Purchased	:	$387.6 million
Deposits Purchased	:	$339.9 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	$270.7 million
Cost to the Deposit Insurance Fund	:	$90.3 million

Notes

As of December 31, 2010, Habersham Bank had approximately $387.6 million in total assets and $339.9 million in total deposits. In addition to assuming all of the deposits of the failed bank, SCBT National Association agreed to purchase essentially all of the assets.

# 340

Failed Bank	:	Canyon National Bank - Palm Springs, California
Date Closed	:	February 11, 2011
Assets	:	$210.9 million
Deposits	:	$205.3 million

Acquiring Bank	:	Pacific Premier Bank - Costa Mesa, California
Assets Purchased	:	$210.9 million
Deposits Purchased	:	$205.3 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	-
Cost to the Deposit Insurance Fund	:	$10.0 million

Notes

As of December 31, 2010, Canyon National Bank had approximately $210.9 million in total assets and $205.3 million in total deposits. In addition to assuming all of the deposits of the failed bank, Pacific Premier Bank agreed to purchase essentially all of the assets.

# 339

Failed Bank	:	Badger State Bank - Cassville, Wisconsin
Date Closed	:	February 11, 2011
Assets	:	$83.8 million
Deposits	:	$78.5 million

Acquiring Bank	:	Royal Bank - Elroy, Wisconsin
Assets Purchased	:	$83.8 million
Deposits Purchased	:	$78.5 million
Premium paid for acquiring deposits	:	-
Loss Sharing Agreement with FDIC for assets	:	-
Cost to the Deposit Insurance Fund	:	$17.5 million

Notes

As of December 31, 2010, Badger State Bank had approximately $83.8 million in total assets and $78.5 million in total deposits. In addition to assuming all of the deposits of the failed bank, Royal Bank agreed to purchase essentially all of the assets.