SECURITY BANK, NATIONAL ASSOCIATION Failed 2012

What happened

SECURITY BANK, NATIONAL ASSOCIATION of NORTH LAUDERDALE, FL was closed on 2012-05-04. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to BANESCO USA (CORAL GABLES, FL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

4005

FDIC Certificate

23156

FDIC FIN

10439

Bank name

SECURITY BANK, NATIONAL ASSOCIATION

Location

NORTH LAUDERDALE, FL

Failure date

2012-05-04

FDIC resolution date

2012-05-04

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$15M

Deposits at failure

$99M

Assets at failure

$101M

Acquiring bank

BANESCO USA (CORAL GABLES, FL)