Skip to main content
U.S. flag
An official website of the United States government

Bank Failures

2017 in Brief

There were 8 bank failures in 2017. See detailed descriptions below.

For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.

2017 Summary by Month

(Approximate asset dollar volume based on figures from the press releases)

Months JanFebMarAprMayJunJulAugSepOctNovDec
Bank Failures201120000101
Total Assets (Millions)$487.6$0$68.2$4,740.0$1,034.4$0$0$0$0$34.2$0$166.3
December Back to Top
Bank Name Press Release Closing Date Approx. Asset (Millions) Approx. Deposit (Millions) Acquirer & Transaction
Washington Federal Bank for Savings, Chicago, IL PR-96-2017 $166.3 $144.0

Royal Savings Bank has agreed to assume the non-brokered insured deposits.
October Back to Top
Bank Name Press Release Closing Date Approx. Asset (Millions) Approx. Deposit (Millions) Acquirer & Transaction
The Farmers and Merchants State Bank of Argonia, Argonia, KS PR-80-2017 $34.2 $29.6

Conway Bank has agreed to assume all deposits.
May Back to Top
Bank Name Press Release Closing Date Approx. Asset (Millions) Approx. Deposit (Millions) Acquirer & Transaction
Fayette County Bank, Saint Elmo, IL PR-41-2017 $34.4 $34.0

United Fidelity Bank, fsb has agreed to assume all deposits.
Guaranty Bank, (d/b/a BestBank in Georgia & Michigan), Milwaukee, WI PR-37-2017 $1,000.0 $1,000.0

First-Citizens Bank & Trust Company has agreed to assume all deposits.
April Back to Top
Bank Name Press Release Closing Date Approx. Asset (Millions) Approx. Deposit (Millions) Acquirer & Transaction
First NBC Bank, New Orleans, LA PR-34-2017 $4,740.0 $3,540.0

Whitney Bank has agreed to assume the transactional deposits (approximately $1.6 billion), and to purchase approximately $1 billion of the failed bank's assets. The FDIC mailed checks for the time deposits (CDs and IRAs) and retained the remaining assets for later disposition.
March Back to Top
Bank Name Press Release Closing Date Approx. Asset (Millions) Approx. Deposit (Millions) Acquirer & Transaction
Proficio Bank, Cottonwood Heights, UT PR-19-2017 $68.2 $65.0

Cache Valley Bank has agreed to assume all deposits.
January Back to Top
Bank Name Press Release Closing Date Approx. Asset (Millions) Approx. Deposit (Millions) Acquirer & Transaction
Seaway Bank and Trust Company, Chicago, IL PR-9-2017 $361.2 $307.1

State Bank of Texas has agreed to assume all deposits.
Harvest Community Bank, Pennsville, NJ PR-4-2017 $126.4 $123.8

First-Citizens Bank & Trust Company has agreed to assume all deposits.