MAGNET BANK Failed 2009
What happened
MAGNET BANK of SALT LAKE CITY, UT was closed on 2009-01-30. The FDIC was named receiver.
Resolution: PO
Deposits were transferred to 0 (0, 0). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3599
- FDIC Certificate
- 58001
- FDIC FIN
- 10031
- Bank name
- MAGNET BANK
- Location
- SALT LAKE CITY, UT
- Failure date
- 2009-01-30
- FDIC resolution date
- 2009-01-30
- Charter type
- State commercial bank, non-Federal Reserve member (FDIC-supervised)
- Resolution type
- PO
- FDIC DIF cost (est.)
- $170M
- Deposits at failure
- $283M
- Assets at failure
- $301M
- Acquiring bank
- 0 (0, 0)
Other banks 0 acquired in FDIC resolutions
- THE COMMUNITY'S BANK (BRIDGEPORT, CT) — failed 2013-09-13
- NOVA BANK (BERWYN, PA) — failed 2012-10-26
- BANK OF THE EASTERN SHORE (CAMBRIDGE, MD) — failed 2012-04-27
- NEW CITY BANK (CHICAGO, IL) — failed 2012-03-09
- HOME SAVINGS OF AMERICA (LITTLE FALLS, MN) — failed 2012-02-24
- FIRSTIER BANK (LOUISVILLE, CO) — failed 2011-01-28
- ENTERPRISE BANKING COMPANY (MCDONOUGH, GA) — failed 2011-01-21
- FIRST ARIZONA SAVINGS, A FSB (SCOTTSDALE, AZ) — failed 2010-10-22
- IDEAL FEDERAL SAVINGS BANK (BALTIMORE, MD) — failed 2010-07-09
- ARCOLA HOMESTEAD SAVINGS BANK (ARCOLA, IL) — failed 2010-06-04