FIRST STATE BANK Failed 2009
What happened
FIRST STATE BANK of SARASOTA, FL was closed on 2009-08-07. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to STEARNS BANK, NATIONAL ASSOCIATION (ST. CLOUD, MN). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3665
- FDIC Certificate
- 27364
- FDIC FIN
- 10098
- Bank name
- FIRST STATE BANK
- Location
- SARASOTA, FL
- Failure date
- 2009-08-07
- FDIC resolution date
- 2009-08-07
- 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.)
- $119M
- Deposits at failure
- $395M
- Assets at failure
- $448M
- Acquiring bank
- STEARNS BANK, NATIONAL ASSOCIATION (ST. CLOUD, MN)
Other banks STEARNS BANK, NATIONAL ASSOCIATION acquired in FDIC resolutions