2023 Summary by Month
(Approximate asset dollar volume based on figures from the press releases)
| Months | Nov | Jul | May | Mar | Mar |
|---|---|---|---|---|---|
| Bank Failures | 1 | 1 | 1 | 1 | 1 |
| Approx. Asset (Millions) | 66.00 | 139.00 | 229100.00 | 110400.00 | 209000.00 |
| Bank Name | Press Release | Closing Date | Approx. Asset (Millions) | Approx. Deposit (Millions) | Acquirer & Transaction |
|---|---|---|---|---|---|
| Citizens Bank, Sac City, IA | PR-091-2023 | $66.0 | $59.0 | Iowa Trust & Savings Bank to assume all of the deposits and substantially all of the assets of Citizens Bank. |
| Bank Name | Press Release | Closing Date | Approx. Asset (Millions) | Approx. Deposit (Millions) | Acquirer & Transaction |
|---|---|---|---|---|---|
| Heartland Tri-State Bank, Elkhart, KS | PR-058-2023 | $139.0 | $130.0 | Dream First Bank, National Association, to assume all of the deposits and substantially all of the assets of Heartland Tri-State Bank. |
| Bank Name | Press Release | Closing Date | Approx. Asset (Millions) | Approx. Deposit (Millions) | Acquirer & Transaction |
|---|---|---|---|---|---|
| First Republic Bank, San Francisco, CA | PR-34-2023 | $229,100.0 | $103,900.0 | JPMorgan Chase Bank, National Association, to assume all of the deposits and substantially all of the assets of First Republic Bank. |
| Bank Name | Press Release | Closing Date | Approx. Asset (Millions) | Approx. Deposit (Millions) | Acquirer & Transaction |
|---|---|---|---|---|---|
| Signature Bank, New York, NY | PR-18-2023, PR-21-2023 | $110,400.0 | $88,600.0 | On Sunday, March 12, 2023, Signature Bank, New York, NY was closed by the New York State Department of Financial Services, which appointed the FDIC as Receiver. On Sunday, March 19, 2023, FDIC entered into a purchase and assumption agreement for substantially all deposits and certain loan portfolios with Flagstar Bank, NA, Hicksville, NY, a wholly owned subsidiary of New York Community Bancorp, Inc., Westbury, NY. |
|
| Silicon Valley Bank, Santa Clara, CA | PR-19-2023, PR-23-2023 | $209,000.0 | $175,400.0 | To protect depositors, on Monday, March 13, 2023, the FDIC transferred all the deposits of Silicon Valley Bank to Silicon Valley Bridge Bank, N.A. a full-service 'bridge bank' that was operated by the FDIC as it marketed the institution to potential bidders. On March 26, 2023, the FDIC entered into a purchase and assumption agreement for all deposits and loans of Silicon Valley Bridge Bank, N.A., with FirstCitizens Bank & Trust Company, Raleigh, NC. As part of this transaction Silicon Valley Bridge Bank, N.A, was placed into receivership. |