STERLING BANK Failed 2010
What happened
STERLING BANK of LANTANA, FL was closed on 2010-07-23. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to IBERIABANK (LAFAYETTE, LA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3834
- FDIC Certificate
- 32536
- FDIC FIN
- 10268
- Bank name
- STERLING BANK
- Location
- LANTANA, FL
- Failure date
- 2010-07-23
- FDIC resolution date
- 2010-07-23
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $42M
- Deposits at failure
- $330M
- Assets at failure
- $355M
- Acquiring bank
- IBERIABANK (LAFAYETTE, LA)
Other banks IBERIABANK acquired in FDIC resolutions