7 failed banks ยท 2010 to 2012
Failed banks taken over by Centennial Bank
Centennial Bank of Conway, Arkansas took over seven failed banks between 2010 and 2012, the seventh-highest count among the 318 acquirers of that period. Together they reported $1.6 billion in assets and $1.5 billion in deposits at closing. The largest was Wakulla Bank, at $402 million. All of them were in Florida. Six of the deals came in 2010. The first was Old Southern Bank of Orlando, on March 12, 2010. The most recent was Heritage Bank of Florida of Lutz, on November 2, 2012. The FDIC's estimated loss on these failures totals $460 million, a median of 30% of each bank's assets.
| Closed | Bank | Location | Total assets | Est. loss |
|---|---|---|---|---|
| March 12, 2010 | Old Southern Bank | Orlando, FL | $336 million | $76.5 million |
| March 26, 2010 | Key West Bank | Key West, FL | $88.0 million | $16.2 million |
| July 30, 2010 | Coastal Community Bank | Panama City Beach, FL | $377 million | $117 million |
| July 30, 2010 | Bayside Savings Bank | Port Saint Joe, FL | $64.3 million | $12.5 million |
| October 1, 2010 | Wakulla Bank | Crawfordville, FL | $402 million | $120 million |
| November 19, 2010 | Gulf State Community Bank | Carrabelle, FL | $112 million | $44.4 million |
| November 2, 2012 | Heritage Bank of Florida | Lutz, FL | $225 million | $73.8 million |
The FDIC names the acquirer in each failure record. This page lists what that record shows and says nothing about the acquiring bank today.