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.
|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
|Closing Date||Approx. Asset
|Acquirer & Transaction|
|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.|
|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.|
|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.|
|Proficio Bank, Cottonwood Heights, UT||PR-019-2017||March 3, 2017||$68.2||$65.0||Cache Valley Bank has agreed to assume all deposits.|
|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.|