The Graveyard › Banks › 2009
First State Bank
Sarasota, FL · failed August 7, 2009 · FDIC certificate 27364
First State Bank of Sarasota, FL failed on August 7, 2009. It opened on October 27, 1988, 20 years before. At its last report before that it held $447.7 million in assets and $394.7 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 2008, it held $477.8 million. The FDIC estimates that the Deposit Insurance Fund lost $119.5 million on it.
1988-122009-06
Assets at the end$447.7 millionlast report before August 7, 2009
Deposits at the end$394.7 million
Estimated loss to the fund$119.5 millionDIF
Largest in the quarterly reports$477.8 millionSeptember 30, 2008
Equity to assets1.2%June 30, 2009
Loans not being repaid10.4%noncurrent, June 30, 2009
Return on assets-9.97%a year's rate, June 30, 2009
Staff120full time, June 30, 2009
Also ended in 2009
- Bank of America N.A. · Charlotte · $1.47 trillion in assets · assisted
- FIA Card Services N.A. · Wilmington · $159.6 billion in assets · assisted
- Countrywide Bank, FSB · Alexandria · $118.0 billion in assets · assisted
- Merrill Lynch Bank USA · Salt Lake City · $61.8 billion in assets · assisted
- Merrill Lynch Bank & Trust Co., FSB · New York · $38.0 billion in assets · assisted
- Bank of America Rhode Island N.A. · Providence · $35.4 billion in assets · assisted
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.