# SOVEREIGN SB

> **Failed bank** · PALM HARBOR, FL · failed 1991-03-15 · SL · FDIC cost $3M

## What happened

SOVEREIGN SB of PALM HARBOR, FL was closed by state regulators on **1991-03-15**. The FDIC was named receiver.

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

Deposits were transferred to **FIFTH THIRD SB, FSB** (PALM HARBOR, FL). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3044
- **FDIC Certificate:** 32514
- **FDIC FIN:** 7449
- **Bank name:** SOVEREIGN SB
- **Location:** PALM HARBOR, FL
- **Failure date:** 1991-03-15
- **FDIC resolution date:** 1991-09-13
- **Charter type:** SL
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $3M
- **Deposits at failure:** $34M
- **Assets at failure:** $39M
- **Acquiring bank:** FIFTH THIRD SB, FSB (PALM HARBOR, FL)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, SOVEREIGN SB (FDIC ID 3044), failed 1991-03-15. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/3044.

---

*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*