FREEDOM BANK Failed 2008

BRADENTON, FL · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

FREEDOM BANK of BRADENTON, FL was closed on 2008-10-31. The FDIC was named receiver.

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

Deposits were transferred to FIFTH THIRD BANK (GRAND RAPIDS, MI). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3572
FDIC Certificate
57930
FDIC FIN
10019
Bank name
FREEDOM BANK
Location
BRADENTON, FL
Failure date
2008-10-31
FDIC resolution date
2008-10-31
Charter type
State commercial bank, non-Federal Reserve member (FDIC-supervised)
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$113M
Deposits at failure
$257M
Assets at failure
$271M
Acquiring bank
FIFTH THIRD BANK (GRAND RAPIDS, MI)