FIRST BANKING CENTER Failed 2010
What happened
FIRST BANKING CENTER of BURLINGTON, WI was closed on 2010-11-19. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to FIRST MICHIGAN BANK (TROY, MI). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3880
- FDIC Certificate
- 5287
- FDIC FIN
- 10315
- Bank name
- FIRST BANKING CENTER
- Location
- BURLINGTON, WI
- Failure date
- 2010-11-19
- FDIC resolution date
- 2010-11-19
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $86M
- Deposits at failure
- $665M
- Assets at failure
- $751M
- Acquiring bank
- FIRST MICHIGAN BANK (TROY, MI)
Other banks FIRST MICHIGAN BANK acquired in FDIC resolutions