SUN AMERICAN BANK Failed 2010

BOCA RATON, FL · State commercial bank, Federal Reserve member · view on FDIC BankFind ↗

What happened

SUN AMERICAN BANK of BOCA RATON, FL was closed on 2010-03-05. The FDIC was named receiver.

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

Deposits were transferred to FIRST-CITIZENS BANK (RALEIGH, NC). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3757
FDIC Certificate
27126
FDIC FIN
10192
Bank name
SUN AMERICAN BANK
Location
BOCA RATON, FL
Failure date
2010-03-05
FDIC resolution date
2010-03-05
Charter type
State commercial bank, Federal Reserve member
Resolution type
Purchase & Assumption — acquiring bank assumed deposits + bought assets
FDIC DIF cost (est.)
$122M
Deposits at failure
$443M
Assets at failure
$536M
Acquiring bank
FIRST-CITIZENS BANK (RALEIGH, NC)