COASTAL BANK Failed 2011
What happened
COASTAL BANK of COCOA BEACH, FL was closed on 2011-05-06. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to PREMIER AMERICAN BANK, NATIONAL ASSOCIATION (MIAMI, FL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3930
- FDIC Certificate
- 34898
- FDIC FIN
- 10364
- Bank name
- COASTAL BANK
- Location
- COCOA BEACH, FL
- Failure date
- 2011-05-06
- FDIC resolution date
- 2011-05-06
- Charter type
- Savings bank
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $19M
- Deposits at failure
- $124M
- Assets at failure
- $129M
- Acquiring bank
- PREMIER AMERICAN BANK, NATIONAL ASSOCIATION (MIAMI, FL)
Other banks PREMIER AMERICAN BANK, NATIONAL ASSOCIATION acquired in FDIC resolutions