The Graveyard › Banks › 2002
New Century Bank
Shelby Township, MI · failed March 28, 2002 · FDIC certificate 34979
New Century Bank of Shelby Township, MI failed on March 28, 2002. It opened on July 1, 1999, 2 years before. At its last report before that it held $21.1 million in assets and $18.9 million in deposits. At its largest in the FDIC's quarterly reports, on March 31, 2000, it held $56.5 million. The FDIC estimates that the Bank Insurance Fund lost $4.4 million on it.
1999-092001-12
Assets at the end$21.1 millionlast report before March 28, 2002
Deposits at the end$18.9 million
Estimated loss to the fund$4.4 millionBIF
Largest in the quarterly reports$56.5 millionMarch 31, 2000
Equity to assets-0.1%December 31, 2001
Loans not being repaid7.7%noncurrent, December 31, 2001
Return on assets-16.41%a year's rate, December 31, 2001
Staff18full time, December 31, 2001
Also ended in 2002
- Hamilton Bank, National Association · Miami, FL · $1.4 billion in assets
- Nextbank · Phoenix, AZ · $700.2 million in assets
- Connecticut Bank of Commerce · Stamford, CT · $384.2 million in assets
- AmTrade International Bank of Georgia · Atlanta, GA · $92.1 million in assets
- Oakwood Deposit Bank · Oakwood, OH · $72.3 million in assets
- The Bank of Alamo · Alamo, TN · $58.5 million 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.