FIRST PEOPLES BANK Failed 2011

What happened

FIRST PEOPLES BANK of PORT SAINT LUCIE, FL was closed on 2011-07-15. 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

3943

FDIC Certificate

34870

FDIC FIN

10376

Bank name

FIRST PEOPLES BANK

Location

PORT SAINT LUCIE, FL

Failure date

2011-07-15

FDIC resolution date

2011-07-15

Charter type

State commercial bank, non-Federal Reserve member (FDIC-supervised)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$13M

Deposits at failure

$208M

Assets at failure

$225M

Acquiring bank

PREMIER AMERICAN BANK, NATIONAL ASSOCIATION (MIAMI, FL)

Other banks PREMIER AMERICAN BANK, NATIONAL ASSOCIATION acquired in FDIC resolutions

• COASTAL BANK (COCOA BEACH, FL) — failed 2011-05-06
• CORTEZ COMMUNITY BANK (BROOKSVILLE, FL) — failed 2011-04-29
• FIRST NATIONAL BANK OF CENTRAL FLORIDA (WINTER PARK, FL) — failed 2011-04-29
• SUNSHINE STATE COMMUNITY BANK (PORT ORANGE, FL) — failed 2011-02-11
• FLORIDA COMMUNITY BANK (IMMOKALEE, FL) — failed 2010-01-29
• PREMIER AMERICAN BANK (MIAMI, FL) — failed 2010-01-22