The list of Bank
Failures in Brief is updated through December 31,
2002. Please address questions on this subject to the Customer
Service Hotline (telephone: 888-206-4662).
2002
BIF = Bank Insurance Fund
SAIF = Savings Association Insurance
Fund
December 17 (BIF)
The Farmers Bank & Trust of
Cheneyville, Cheneyville, Louisiana, with approximately $37 million
in assets and $33.1 million in deposits, was assumed by Sabine State
Bank and Trust Company, Many, Louisiana. (PR-131-2002)
November 8 (BIF)
The Bank of Alamo, Alamo, TN
with total deposits of approximately $55.3 million and total
assets of about $69.4 million, was for approved payout by the FDIC
Board of Directors. (PR-120-2002)
September 30 (BIF)
AmTrade International Bank, Atlanta,
Georgia with total deposits of approximately $10.2 million and
total assets of about $12 million, was approved for payout by the
FDIC Board of Directors. (PR-100-2002)
June 27 (SAIF)
Universal Federal Savings Bank, Chicago,
Illinois, with approximately $52 million in assets and $40 million
in deposits, was assumed by Chicago Community Bank, Chicago,
Illinois. (PR-81-2002)
June 26 (BIF)
The Connecticut Bank of Commerce,
Stamford, Connecticut, with approximately $398.6 million in assets
and $323.7 million in deposits, was assumed by Hudson United Bank,
Mahwah, New Jersey. (PR-80-2002)
March 28 (BIF)
New Century Bank, Shelby
Township, Michigan, with total deposits of approximately $17.9
million and total assets of about $18.9 million, was approved for
payout by the FDIC Board of Directors. (Press
Release).
March 1 (BIF)
Net 1st National Bank, Boca
Raton, Florida, with total deposits of approximately $27.4
million and total assets of about $34.7 million, was assumed by Bank
Leumi USA, of New York, New York. (PR-26-2002).
February 7 (BIF)
NextBank, N.A., Phoenix,
Arizona, with total deposits of approximately $554 million and
total assets of about $700 million, was approved for payout by the
FDIC Board of Directors. (PR-16-2002).
February 1 (BIF)
The Oakwood Deposit Bank
Company, Oakwood, Ohio, with total deposits of approximately
$60.2 million and total assets of about $72.3 million, was assumed
by The State Bank and Trust Company of Defiance, Ohio. (PR-11-2002,
PR-10-2002)
January 18 (BIF)
Bank of Sierra Blanca,
Sierra Blanca, Texas, with total deposits of approximately $9.8
million and total assets of about $10.8 million, was assumed by The
Security State Bank of Pecos, Pecos, Texas. (PR-5-2002).
