PROFICIO BANK Failed 2017
What happened
PROFICIO BANK of COTTONWOOD HEIGHTS, UT was closed on 2017-03-03. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CACHE VALLEY BANK (LOGAN, UT). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 4091
- FDIC Certificate
- 35495
- FDIC FIN
- 10525
- Bank name
- PROFICIO BANK
- Location
- COTTONWOOD HEIGHTS, UT
- Failure date
- 2017-03-03
- FDIC resolution date
- 2017-03-03
- 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.)
- $10M
- Deposits at failure
- $65M
- Assets at failure
- $68M
- Acquiring bank
- CACHE VALLEY BANK (LOGAN, UT)
Other banks CACHE VALLEY BANK acquired in FDIC resolutions