# GLOBAL BANK

> **Failed bank** · HIALEAH, FL · failed 1988-02-12 · State commercial bank, Federal Reserve member · FDIC cost $7M

## What happened

GLOBAL BANK of HIALEAH, FL was closed by state regulators on **1988-02-12**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **OCEAN BANK** (MIAMI, FL). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 1628
- **FDIC Certificate:** 25288
- **FDIC FIN:** 2785
- **Bank name:** GLOBAL BANK
- **Location:** HIALEAH, FL
- **Failure date:** 1988-02-12
- **FDIC resolution date:** 1988-02-12
- **Charter type:** State commercial bank, Federal Reserve member
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $7M
- **Deposits at failure:** $20M
- **Assets at failure:** $22M
- **Acquiring bank:** OCEAN BANK (MIAMI, FL)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=GLOBAL%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, GLOBAL BANK (FDIC ID 1628), failed 1988-02-12. Retrieved via AI Analytics 2026-07-07 from https://api.ai-analytics.org/failed-bank/1628.

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