Bank Failures in Brief – 2017
There were 8 bank failures in 2017. See detailed descriptions below.
Please select the buttons below for other years' information.
| Months | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bank Failures | 2 | 0 | 1 | 1 | 2 | 0 | 0 | 0 | 0 | 1 | 0 | 1 |
| Total Assets (Millions) | 487.6 | 0 | 68.2 | 4,740.0 | 1,034.4 | 0 | 0 | 0 | 0 | 34.2 | 0 | 166.3 |
| Bank Name, City, ST | Press Release (PR) |
Closing Date | Approx. Asset (Millions) |
Approx. Deposit (Millions) |
Acquirer & Transaction |
|---|---|---|---|---|---|
| December | |||||
| Washington Federal Bank for Savings, Chicago, IL | PR-096-2017 | December 15, 2017 | $166.3 | $144.0 | Royal Savings Bank has agreed to assume the non-brokered insured deposits. |
| October | |||||
| The Farmers and Merchants State Bank of Argonia, Argonia, KS | PR-080-2017 | October 13, 2017 | $34.2 | $29.6 | Conway Bank has agreed to assume all deposits. |
| May | |||||
| Fayette County Bank, Saint Elmo, IL | PR-041-2017 | May 26, 2017 | $34.4 | $34.0 | United Fidelity Bank, fsb has agreed to assume all deposits. |
| Guaranty Bank, Milwaukee, WI, (d/b/a BestBank in Georgia & Michigan) | PR-037-2017 | May 5, 2017 | $1,000.0 | $1,000.0 | First-Citizens Bank & Trust Company has agreed to assume all deposits. |
| AprilBack to top | |||||
| First NBC Bank, New Orleans, LA | PR-034-2017 | April 28, 2017 | $4,740.0 | $3,540.0 | Whitney Bank has agreed to assume the transactional deposits (approximately $1.6 billion), and to purchase approximately $1 billion of the failed bank's assets. The FDIC mailed checks for the time deposits (CDs and IRAs) and retained the remaining assets for later disposition. |
| March | |||||
| Proficio Bank, Cottonwood Heights, UT | PR-019-2017 | March 3, 2017 | $68.2 | $65.0 | Cache Valley Bank has agreed to assume all deposits. |
| January | |||||
| Seaway Bank and Trust Company, Chicago, IL | PR-009-2017 | January 27, 2017 | $361.2 | $307.1 | State Bank of Texas has agreed to assume all deposits. |
| Harvest Community Bank, Pennsville, NJ | PR-004-2017 | January 13, 2017 | $126.4 | $123.8 | First-Citizens Bank & Trust Company has agreed to assume all deposits. |