PROGRESS BANK OF FLORIDA Failed 2010
What happened
PROGRESS BANK OF FLORIDA of TAMPA, FL was closed on 2010-10-22. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to BAY CITIES BANK (TAMPA, FL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3870
- FDIC Certificate
- 32251
- FDIC FIN
- 10303
- Bank name
- PROGRESS BANK OF FLORIDA
- Location
- TAMPA, FL
- Failure date
- 2010-10-22
- FDIC resolution date
- 2010-10-22
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $35M
- Deposits at failure
- $87M
- Assets at failure
- $95M
- Acquiring bank
- BAY CITIES BANK (TAMPA, FL)