Failed Bank List

Closed Friday, April 29, 2011 · Winter Park, Orange County, Florida

First National Bank of Central Florida

First National Bank of Central Florida was the largest of two banks handed to Florida Community Bank, a division of Premier American Bank, N.A. together on the day it closed. Equity capital was below zero at its last report. In 2011 regulators closed 13 banks in Florida; this was the third.

On the books, 2003 to 2011

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$150M$300M$450M$600M2004200520062007200820092010Closed
Total assets peaked at $537 million in the first quarter of 2009 and were 36% lower at the final report. Equity capital had covered 7.2% of assets in the second quarter of 2003. By then 28% of its loans were 90 days or more past due or no longer accruing interest. It reported a net loss in four of its final nine reporting years. The deepest annual loss, $31.0 million, was booked in 2010.
Net income in each reporting year before closing, with equity capital as a share of assets at year endNet income per yearEquity to assets at year end$32M−$32M2003: $584 thousand20036.9%2004: $1.4 million20047.9%2005: $2.8 million20057.4%2006: $3.5 million20068.1%2007: $2.8 million20078.5%2008: −$2.7 million20087.7%2009: −$6.3 million20097.5%2010: −$31.0 million20101.5%2011: −$5.9 million2011*neg.
* 2011: January to March only, the last report before closing.

Size against the other 2011 failures

Total assets of the 92 banks that failed in 2011, log scale$10M$100M$1B$10B
Total assets of each 2011 failure, log scale; First National Bank of Central Florida in red.

By assets it ranked 25th of the 92 failures in 2011. Within Florida it ranks 46th by size of the 179 failures recorded since 1934. Across the failures of 2011, the median estimated loss came to 23% of assets. In the size ranking of that year, just above it was Sun Security Bank of Ellington, Missouri ($351 million, loss 26% of assets); just below, CommunitySouth Bank and Trust of Easley, South Carolina ($341 million, loss 13% of assets). Every 2011 failure in the explorer.

Closed together

With First National Bank of Central Florida, the group reported $408 million in assets, and the FDIC's estimated loss on all two is $60.1 million. They have no separate pages here.

The other banks in the same transaction
BankLocationTotal assetsEst. lossFounded
Cortez Community BankBrooksville, FL$66.3 million$17.2 million2004

Regulators closed five banks that day. The largest of the others outside this group was The Park Avenue Bank of Valdosta, Georgia, at $849 million.

Failures in Florida

The previous failure there was Sunshine State Community Bank of Port Orange, on February 11, 2011. The next was Coastal Bank of Cocoa Beach, on May 6, 2011. Orange County has 6 failed banks on FDIC record since 1934. The others: Florida Center Bank (1986), American Pioneer Savings Bank (1990), The First, Federal Association (1991), Old Southern Bank (2010), First Commercial Bank of Florida (2011).

Bank failures in Florida per year, 1980 to 2026081624321980: 11982: 11984: 21985: 31986: 51987: 61988: 51989: 191990: 211991: 231992: 91993: 11999: 22002: 22004: 12008: 22009: 142010: 292011: 132012: 82013: 42014: 12015: 12020: 119801990200020102020
Per year since 1980, 2011 in red. Every Florida failure

The acquiring bank

Florida Community Bank, a division of Premier American Bank, N.A. of Miami, Florida took over three failed banks between 2000 and 2026. Apart from the banks closed together with this one, the other:

  • Coastal BankCocoa Beach, FL · May 6, 2011

FDIC certificate 26297 · loss estimate as of July 31, 2026 · How to read this page