Closed Friday, May 23, 2014 · Cincinnati, Hamilton County, Ohio
Columbia Savings Bank
Columbia Savings Bank's founding in 1892 put it past its 100th year when it closed. No bank in Ohio had failed for three years, since Bramble Savings Bank closed in 2010. Columbia Savings Bank's assets had shrunk 51% from their peak in the first quarter of 2007 by the last report before closing.
On the books, 2006 to 2014
Total assets peaked at $75.0 million. Equity capital went from 8.2% of assets in the second quarter of 2006 to 2.1% at the last report. By then 12% of its loans were 90 days or more past due or no longer accruing interest. It reported a net loss in eight of its final nine reporting years. The deepest annual loss, $2.2 million, was booked in 2011.* 2014: January to March only, the last report before closing.
Size against the other 2014 failures
Total assets of each 2014 failure, log scale; Columbia Savings Bank in red.
By assets it ranked 16th of the 18 failures in 2014. Within Ohio it ranks 24th by size of the 38 failures recorded since 1934. Across the failures of 2014, the median estimated loss came to 13% of assets. In the size ranking of that year, just above it was Allendale County Bank of Fairfax, South Carolina ($49.5 million, loss 45% of assets); just below, The Freedom State Bank of Freedom, Oklahoma ($22.8 million, loss 16% of assets). Every 2014 failure in the explorer.
Failures in Ohio
The next was Resolute Bank of Maumee, on October 25, 2019. Hamilton County has 4 failed banks on FDIC record since 1934. The others: Major Federal Savings and Loan Association (1986), Hamilton County State Bank (1987), 1ST Ohio Savings Bank, FSB (1992).