# THE BANK OF MIAMI

> **Failed bank** · CORAL GABLES, FL · failed 2010-12-17 · National commercial bank (OCC-chartered) · FDIC cost $29M

## What happened

THE BANK OF MIAMI of CORAL GABLES, FL was closed by the OCC 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
- **Estimated FDIC DIF cost:** $29M
- **Deposits at failure:** $374M
- **Assets at failure:** $448M
- **Acquiring bank:** 1ST UNITED BANK (BOCA RATON, FL)

## Other banks 1ST UNITED BANK has acquired in FDIC resolutions

- REPUBLIC FEDERAL BANK, N.A. (MIAMI, FL) — failed 2009-12-11 — /failed-bank/3725
- BANK OF SOUTH PALM BEACHES (HYPOLUXO, FL) — failed 1991-08-09 — /failed-bank/3158
- FIRST MARINE BANK OF FLORIDA (PALM CITY, FL) — failed 1991-03-08 — /failed-bank/3028

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, THE BANK OF MIAMI (FDIC ID 3885), failed 2010-12-17. Retrieved via AI Analytics 2026-05-19 from https://api.ai-analytics.org/failed-bank/3885.

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