The Graveyard › Banks › 2011
Bank of the Commonwealth
Norfolk, VA · failed September 23, 2011 · FDIC certificate 20408
Bank of the Commonwealth of Norfolk, VA failed on September 23, 2011. It opened on April 14, 1971, 40 years before. At its last report before that it held $985.1 million in assets and $901.8 million in deposits. At its largest in the FDIC's quarterly reports, on December 31, 2009, it held $1.3 billion. The FDIC estimates that the Deposit Insurance Fund lost $238.7 million on it.
1984-032011-06
Assets at the end$985.1 millionlast report before September 23, 2011
Deposits at the end$901.8 million
Estimated loss to the fund$238.7 millionDIF
Largest in the quarterly reports$1.3 billionDecember 31, 2009
Equity to assets1.7%June 30, 2011
Loans not being repaid18.0%noncurrent, June 30, 2011
Return on assets-6.31%a year's rate, June 30, 2011
Staff201full time, June 30, 2011
Also ended in 2011
- Superior Bank · Birmingham, AL · $3.0 billion in assets
- First Community Bank · Taos, NM · $2.2 billion in assets
- United Western Bank · Denver, CO · $2.2 billion in assets
- Integra Bank National Association · Evansville, IN · $2.0 billion in assets
- Lydian Private Bank · Palm Beach, FL · $1.7 billion in assets
- Community Banks of Colorado · Greenwood Village, CO · $1.3 billion in assets
History, not advice.
Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.