12 failed banks ยท 2009 to 2023
Failed banks taken over by First-Citizens Bank & Trust Company
First-Citizens Bank & Trust Company of Raleigh, North Carolina took over twelve failed banks between 2009 and 2023, the highest count among the 318 acquirers of that period. Together they reported $218 billion in assets and $183 billion in deposits at closing. The largest was Silicon Valley Bank, at $209 billion. The banks were spread over eight states, most in California (3). Two of the deals came in 2009. The first was Temecula Valley Bank of Temecula, on July 17, 2009. The FDIC's estimated loss on these failures totals $20.2 billion, a median of 17% of each bank's assets.
| Closed | Bank | Location | Total assets | Est. loss |
|---|---|---|---|---|
| July 17, 2009 | Temecula Valley Bank | Temecula, CA | $1.4 billion | $227 million |
| September 11, 2009 | Venture Bank | Lacey, WA | $968 million | $201 million |
| January 29, 2010 | First Regional Bank | Los Angeles, CA | $2.1 billion | $224 million |
| March 5, 2010 | Sun American Bank | Boca Raton, FL | $536 million | $122 million |
| January 21, 2011 | United Western Bank | Denver, CO | $2.2 billion | $133 million |
| July 8, 2011 | Colorado Capital Bank | Castle Rock, CO | $666 million | $255 million |
| February 13, 2015 | Capitol City Bank & Trust Company | Atlanta, GA | $272 million | $95.9 million |
| March 11, 2016 | North Milwaukee State Bank | Milwaukee, WI | $67.1 million | $11.8 million |
| May 6, 2016 | First CornerStone Bank | King of Prussia, PA | $103 million | $10.8 million |
| January 13, 2017 | Harvest Community Bank | Pennsville, NJ | $124 million | $22.2 million |
| May 5, 2017 | Guaranty Bank, (d/b/a BestBank in Georgia & Michigan) | Milwaukee, WI | $1.0 billion | $132 million |
| March 10, 2023 | Silicon Valley Bank | Santa Clara, CA | $209 billion | $18.7 billion |
The FDIC names the acquirer in each failure record. This page lists what that record shows and says nothing about the acquiring bank today.