Closed Friday, March 12, 2004 · Tallahassee, Leon County, Florida
Guaranty National Bank of Tallahassee
Guaranty National Bank of Tallahassee was the largest of the 4 bank failures in 2004. The FDIC records no estimated loss to the Bank Insurance Fund from this failure. Its assets had shrunk 46% from their peak in the first quarter of 2001 by the last report before closing.
On the books, 1996 to 2003
Total assets peaked at $132 million. Equity capital went from 5.2% of assets in the first quarter of 1996 to 6.4% at the last report. It reported a net loss in five of its final eight reporting years. The deepest annual loss, $4.1 million, was booked in 2003.
Size against the other 2004 failures
Total assets of each 2004 failure, log scale; Guaranty National Bank of Tallahassee in red.
Within Florida it ranks 121st by size of the 179 failures recorded since 1934. Across the failures of 2004, the median estimated loss came to 1.6% of assets. The next-largest failure of that year was Bank of Ephraim of Ephraim, Utah ($56.8 million, loss 5.3% of assets). Every 2004 failure in the explorer.
Failures in Florida
The previous failure there was Net First National Bank of Boca Raton, on March 1, 2002. The next was First Priority Bank of Bradenton, on August 1, 2008. No other failed bank in the FDIC's records was based in Leon County.