The Graveyard › Banks › 2010
Innovative Bank
Oakland, CA · failed April 16, 2010 · FDIC certificate 23876
Innovative Bank of Oakland, CA failed on April 16, 2010. It opened on July 1, 1982, 27 years before. At its last report before that it held $266.8 million in assets and $223.2 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 2008, it held $289.8 million. The FDIC estimates that the Deposit Insurance Fund lost $22.7 million on it.
1984-032010-03
Assets at the end$266.8 millionlast report before April 16, 2010
Deposits at the end$223.2 million
Estimated loss to the fund$22.7 millionDIF
Largest in the quarterly reports$289.8 millionJune 30, 2008
Equity to assets5.2%March 31, 2010
Loans not being repaid17.7%noncurrent, March 31, 2010
Return on assets-4.58%a year's rate, March 31, 2010
Staff82full time, March 31, 2010
Also ended in 2010
- Westernbank Puerto Rico · Mayaguez, PR · $10.8 billion in assets
- R-G Premier Bank of Puerto Rico · Hato Rey, PR · $5.7 billion in assets
- La Jolla Bank, FSB · La Jolla, CA · $3.6 billion in assets
- Riverside National Bank of Florida · Fort Pierce, FL · $3.4 billion in assets
- Frontier Bank · Everett, WA · $3.3 billion in assets
- Midwest Bank and Trust Company · Elmwood Park, IL · $3.2 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.