SOUTHSHORE COMMUNITY BANK Failed 2011
What happened
SOUTHSHORE COMMUNITY BANK of APOLLO BEACH, FL was closed on 2011-07-22. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to AMERICAN MOMENTUM BANK (TAMPA, FL). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3948
- FDIC Certificate
- 58056
- FDIC FIN
- 10382
- Bank name
- SOUTHSHORE COMMUNITY BANK
- Location
- APOLLO BEACH, FL
- Failure date
- 2011-07-22
- FDIC resolution date
- 2011-07-22
- 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.)
- $11M
- Deposits at failure
- $41M
- Assets at failure
- $41M
- Acquiring bank
- AMERICAN MOMENTUM BANK (TAMPA, FL)
Other banks AMERICAN MOMENTUM BANK acquired in FDIC resolutions