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Bank Failures in Brief
2008

There were 25 bank failures in 2008. The list of Bank Failures in Brief was updated through December 12, 2008. Please address questions on this subject to the Customer Service Hotline (telephone: 888-206-4662).

December

Sanderson State Bank, Sanderson, Texas, with approximately $37 million in total assets and $27.9 million in total deposits, was closed. The Pecos County State Bank, Fort Stockton, Texas has agreed to assume all deposits. (PR-135-2008)

Haven Trust Bank, Duluth, Georgia, with approximately $572 million in total assets and $515 million in total deposits, was closed. Branch Banking and Trust Company, Winston-Salem, North Carolina has agreed to assume all deposits. (PR-134-2008)

First Georgia Community Bank, Jackson, Georgia, with approximately $237.5 million in total assets and $197.4 million in total deposits, was closed. United Bank, Zebulon, Georgia has agreed to assume all deposits. (PR-132-2008)

November

PFF Bank and Trust, Pomona, California, with $3.7 billion in assets and $2.4 billion in deposits was closed. In a transaction facilitated by the FDIC, U.S. Bank, National Association acquired the banking operations of PFF Bank and Trust, and agreed to assume all deposits.(PR-124-2008)

Downey Savings and Loan Association, F.A., Newport Beach, California, with $12.8 billion in assets and $9.7 billion in deposits was closed. In a transaction facilitated by the FDIC, U.S. Bank, National Association, acquired the banking operations of Downey Savings and Loan Association, and agreed to assume all deposits.(PR-124-2008)

The Community Bank, Loganville, Georgia, with approximately $681.0 million in total assets and $611.4 million in total deposits, was closed. Bank of Essex, Tappahannock, Virginia has agreed to assume all deposits. (PR-123-2008)

Security Pacific Bank, Los Angeles, California, with approximately $561.1 million in total assets and $450.1 million in total deposits, was closed. Pacific Western Bank, Los Angeles, California has agreed to assume all deposits. (PR-114-2008)

Franklin Bank, SSB, Houston, Texas, with approximately $5.1 billion in total assets and $3.7 billion in total deposits, was closed. Prosperity Bank, El Campo, Texas has agreed to assume all deposits. (PR-113-2008)

October

Freedom Bank, Bradenton, Florida, with approximately $287 million in total assets and $254 million in total deposits, was closed. Fifth Third Bank of Grand Rapids, Michigan has agreed to assume all deposits. (PR-109-2008)

Alpha Bank & Trust, Alpharetta, Georgia, with approximately $354.1 million in total assets and $346.2 million in total deposits, was closed. Stearns Bank, N.A., St. Cloud, Minnesota has agreed to assume the non-brokered insured deposits. (PR-106-2008)

Meridian Bank, Eldred, Illinois, with approximately $39.18 million in total assets and $36.88 million in total deposits, was closed. National Bank of Hillsboro, Illinois has agreed to assume all deposits. (PR-99-2008)

Main Street Bank, Northville, Michigan, with approximately $98 million total assets and $86 million in total deposits, was closed. Monroe Bank & Trust of Monroe, Michigan has agreed to assume all deposits. (PR-98-2008)

September

Washington Mutual Bank, Seattle, Washington, with approximately $307 billion in assets was closed. In a transaction facilitated by the FDIC, JPMorgan Chase acquired the banking operations of Washington Mutual Bank, and agreed to assume all deposits (approximately $188 billion).(PR-85-2008)

Ameribank, Inc., Northfork, West Virginia, with approximately $115 million in assets and approximately $102 million in deposits was closed. Pioneer Community Bank, Inc., Iaeger, West Virginia has agreed to assume all deposits at Ameribank's West Virginia branches; The Citizens Savings Bank, Martins Ferry, Ohio has agreed to assume all deposits at Ameribank's Ohio branches. (PR-82-2008)

Silver State Bank, Henderson, Nevada, with approximately $2 billion in assets and approximately $1.7 billion in deposits was closed. Nevada State Bank, Las Vegas, Nevada has agreed to assume the non-brokered insured deposits. (PR-77-2008)

August

Integrity Bank, Alpharetta, Georgia, with approximately $1.1 billion in assets was closed. Regions Bank, Birmingham, Alabama has agreed to assume all deposits (approximately $974.0 million). (PR-74-2008)

The Columbian Bank and Trust, Topeka, Kansas, with approximately $752 million in assets and approximately $622 million in deposits was closed. Citizens Bank and Trust Company, Chillicothe, Missouri has agreed to assume the non-brokered insured deposits. (PR-69-2008)

First Priority Bank, Bradenton, Florida, with approximately $259 million in assets and approximately $227 million in deposits was closed. SunTrust Bank, Atlanta, Georgia has agreed to assume the non-brokered insured deposits. (PR-65-2008)

July

First National Bank of Nevada, Reno, Nevada, with approximately $3.4 billion in assets was closed. Mutual of Omaha Bank, Omaha, Nebraska has agreed to assume all deposits (approximately $3.0 billion). On June 30, 2008, First National Bank of Arizona, Scottsdale, Arizona, merged with First National Bank of Nevada and was included in this action. (PR-63-2008)

First Heritage Bank N.A., Newport Beach, California, with approximately $254 million in assets was closed. Mutual of Omaha Bank, Omaha, Nebraska has agreed to assume all deposits (approximately $233 million). (PR-63-2008)

IndyMac Bank, F.S.B., Pasadena, California, with approximately $32.01 billion in assets was closed. Non-brokered insured deposits and substantially all of the assets were transferred to IndyMac Federal Bank, F.S.B., Pasadena, California.  The FDIC was named Conservator. (PR-56-2008)

May

First Integrity Bank, National Association, Staples, Minnesota, with approximately $54.7 million in assets was closed. First International Bank and Trust, Watford City, North Dakota has agreed to assume all deposits (approximately $50.3 million). (PR-41-2008)

ANB Financial, National Association, Bentonville, Arkansas, with approximately $2.1 billion in assets was closed. Pulaski Bank and Trust Company, Little Rock, Arkansas has agreed to assume the non-brokered insured deposits (approximately $212.9 million). (PR-33-2008)

March

Hume Bank, Hume, Missouri, with approximately $18.7 million in assets was closed. Security Bank, Rich Hill, Missouri has agreed to assume the insured deposits (approximately $12.5 million). (PR-21-2008)

January

Douglass National Bank, Kansas City, Missouri, with approximately $58.5 million in assets was closed. Liberty Bank and Trust Company of New Orleans, Louisiana has agreed to assume all deposits (approximately $53.8 million). (PR-7-2008)


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