The Graveyard › Banks › 2010
Statewide Bank
Covington, LA · failed March 12, 2010 · FDIC certificate 29561
Statewide Bank of Covington, LA failed on March 12, 2010. It opened in 1926, 84 years before. At its last report before that it held $243.2 million in assets and $207.8 million in deposits. At its largest in the FDIC's quarterly reports, on September 30, 2007, it held $294.2 million. The FDIC estimates that the Deposit Insurance Fund lost $26.1 million on it.
1984-032009-12
Assets at the end$243.2 millionlast report before March 12, 2010
Deposits at the end$207.8 million
Estimated loss to the fund$26.1 millionDIF
Largest in the quarterly reports$294.2 millionSeptember 30, 2007
Equity to assets5.6%December 31, 2009
Loans not being repaid10.2%noncurrent, December 31, 2009
Return on assets-3.66%a year's rate, December 31, 2009
Staff65full time, December 31, 2009
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.