The Graveyard › Banks › 2011
Summit Bank
Burlington, WA · failed May 20, 2011 · FDIC certificate 513
Summit Bank of Burlington, WA failed on May 20, 2011. It opened in 1914, 97 years before. At its last report before that it held $142.7 million in assets and $131.6 million in deposits. At its largest in the FDIC's quarterly reports, on June 30, 2010, it held $156.9 million. The FDIC estimates that the Deposit Insurance Fund lost $24.2 million on it.
1984-032011-03
Assets at the end$142.7 millionlast report before May 20, 2011
Deposits at the end$131.6 million
Estimated loss to the fund$24.2 millionDIF
Largest in the quarterly reports$156.9 millionJune 30, 2010
Equity to assets1.9%March 31, 2011
Loans not being repaid8.5%noncurrent, March 31, 2011
Return on assets-9.67%a year's rate, March 31, 2011
Staff34full time, March 31, 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.