# SUN AMERICAN BANK

> **Failed bank** · BOCA RATON, FL · failed 2010-03-05 · State commercial bank, Federal Reserve member · FDIC cost $122M

## What happened

SUN AMERICAN BANK of BOCA RATON, FL was closed by state regulators 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
- **Estimated FDIC DIF cost:** $122M
- **Deposits at failure:** $443M
- **Assets at failure:** $536M
- **Acquiring bank:** FIRST-CITIZENS BANK (RALEIGH, NC)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=SUN%20AMERICAN%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, SUN AMERICAN BANK (FDIC ID 3757), failed 2010-03-05. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/3757.

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