COMMERCE BANK OF SOUTHWEST FLORIDA Failed 2009

What happened

COMMERCE BANK OF SOUTHWEST FLORIDA of FORT MYERS, FL was closed on 2009-11-20. The FDIC was named receiver.

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

Deposits were transferred to CENTRAL BANK (STILLWATER, MN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3717

FDIC Certificate

58016

FDIC FIN

10151

Bank name

COMMERCE BANK OF SOUTHWEST FLORIDA

Location

FORT MYERS, FL

Failure date

2009-11-20

FDIC resolution date

2009-11-20

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.)

$32M

Deposits at failure

$73M

Assets at failure

$71M

Acquiring bank

CENTRAL BANK (STILLWATER, MN)

Other banks CENTRAL BANK acquired in FDIC resolutions

• THE RIVERBANK (WYOMING, MN) — failed 2011-10-07
• ROSEMOUNT NATIONAL BANK (ROSEMOUNT, MN) — failed 2011-04-15
• RIVERVIEW COMMUNITY BANK (OSTEGO, MN) — failed 2009-10-23
• JENNINGS STATE BANK (SPRING GROVE, MN) — failed 2009-10-02
• MAINSTREET BANK (FOREST LAKE, MN) — failed 2009-08-28
• NATIONAL INDUSTRIAL BANK OF CONNECTICUT (MERIDEN, CT) — failed 1989-11-09
• DELTA PACIFIC BANK (PITTSBURG, CA) — failed 1987-10-30
• AMERICAN CITY BANK (LOS ANGLES, CA) — failed 1983-02-25