THE BANK OF MIAMI Failed 2010
What happened
THE BANK OF MIAMI of CORAL GABLES, FL was closed on 2010-12-17. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to 1ST UNITED BANK (BOCA RATON, FL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3885
- FDIC Certificate
- 19040
- FDIC FIN
- 10324
- Bank name
- THE BANK OF MIAMI
- Location
- CORAL GABLES, FL
- Failure date
- 2010-12-17
- FDIC resolution date
- 2010-12-17
- Charter type
- National commercial bank (OCC-chartered)
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $29M
- Deposits at failure
- $374M
- Assets at failure
- $448M
- Acquiring bank
- 1ST UNITED BANK (BOCA RATON, FL)
Other banks 1ST UNITED BANK acquired in FDIC resolutions