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Bank Failures in Brief – 2004

There were 4 bank failures in 2004. See detailed descriptions below.

The graph shows there were 4 bank failures in 2004 - February, May, July and September. Closings in February 2004 Bank Failures in March 2004 Bank Failures in June 2004

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2004 Summary by Month
(Approximate asset dollar volume based on figures from the press releases)
Months Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Bank Failures 0 1 2 0 0 1 0 0 0 0 0 0
Total Assets (Millions) 0 12.3 104.4 0 0 46.4 0 0 0 0 0 0

2004 Bank Failure Details
Bank Name, City, ST Press Release
(PR)
Closing Date Approx. Asset
(Millions)
Approx. Deposit
(Millions)
Acquirer & Transaction
June
Bank of Ephraim, Ephraim, UT PR-69-2004 June 25, 2004 $46.4 $40.4 Far West Bank, Provo, UT agreed to assume all insured deposit accounts. (BIF**)
March
Reliance Bank, White Plains, NY PR-24-2004 March 19, 2004 $30.3 $28.0 Union State Bank, Orangeburg, NY agreed to assume all deposits. (BIF**)
Guaranty National Bank of Tallahassee, Tallahassee, FL PR-23-2004
PR-21-2004
March 12, 2004 $74.1 $66.9 Hancock Bank of Florida, Tallahassee, FL agreed to assume all deposits. (BIF**)
February
Dollar Savings Bank Newark, NJ PR-13-2004 February 14, 2004 $12.3 $9.8 The FDIC has approved the payout of the insured deposits of Dollar Savings Bank of Newark. (SAIF*)


*SAIF = Savings Association Insurance Fund **BIF = Bank Insurance Fund

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