Failed Bank List

Closed Friday, July 9, 2010 · Baltimore, Baltimore City, Maryland

Ideal Federal Savings Bank

No bank took over Ideal Federal Savings Bank's deposits: the FDIC paid insured depositors directly. The estimated loss came to 60% of its assets, one of the 30 highest ratios among the 583 failures since 2000. It reported a net loss in five of its final nine reporting years.

On the books, 2002 to 2010

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$2.5M$5M$7.5M$10M2003200420052006200720082009Closed
Total assets peaked at $8.6 million in the first quarter of 2004 and were 28% lower at the final report. Equity capital went from 10.0% of assets in the third quarter of 2002 to 3.6% at the last report. By then 19% of its loans were 90 days or more past due or no longer accruing interest. The deepest annual loss, $379 thousand, was booked in 2009.
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$400K−$400K2002: −$45 thousand200210%2003: $61 thousand20039.6%2004: $27 thousand200410%2005: $13 thousand200511%2006: $29 thousand200610%2007: −$100 thousand200710%2008: −$157 thousand20089.3%2009: −$379 thousand20094.5%2010: −$61 thousand2010*3.6%
* 2010: January to June only, the last report before closing.

Size against the other 2010 failures

Total assets of the 157 banks that failed in 2010, log scale$1M$10M$100M$1B$10B$100B
Total assets of each 2010 failure, log scale; Ideal Federal Savings Bank in red.

By assets it ranked 157th of the 157 failures in 2010. Within Maryland it ranks 27th by size of the 32 failures recorded since 1934. Across the failures of 2010, the median estimated loss came to 21% of assets. The next-larger failure of that year was Imperial Savings and Loan Association of Martinsville, Virginia ($9.4 million, loss 50% of assets). Every 2010 failure in the explorer.

Three other banks closed that day; the largest was Home National Bank of Blackwell, Oklahoma, at $585 million.

Failures in Maryland

It was one of four banks in Maryland to fail in 2010. The previous failure there was Waterfield Bank of Germantown, on March 5, 2010. The next was K Bank of Randallstown, on November 5, 2010. Baltimore City has 7 failed banks on FDIC record since 1934. Closest in time: Yorkridge-Calvert Savings and Loan Association (1989), Augusta Federal Savings Bank (1991), The Washington Bank (of Maryland) (1991), Irvington Federal Savings and Loan Association (1992), Bay National Bank (2010).

Bank failures in Maryland per year, 1980 to 2026023461987: 11989: 31990: 31991: 51992: 52009: 22010: 42012: 22014: 219801990200020102020
Per year since 1980, 2010 in red. Every Maryland failure

FDIC certificate 32456 · loss estimate as of July 31, 2026 · How to read this page