Closed Friday, October 25, 2019 · Maumee, Lucas County, Ohio
Resolute Bank
No bank in Ohio had failed for five years, since Columbia Savings Bank closed in 2014. Resolute Bank's assets had shrunk 46% from their peak in the first quarter of 2016 by the last report before closing. It reported a net loss in eight of its final nine reporting years.
On the books, 2011 to 2019
Total assets peaked at $42.7 million. Equity capital went from 5.6% of assets in the fourth quarter of 2011 to 0.7% at the last report. The deepest annual loss, $2.6 million, was booked in 2018.* 2019: January to September only, the last report before closing.
Size against the other 2019 failures
Total assets of each 2019 failure, log scale; Resolute Bank in red.
By assets it ranked fourth of the 4 failures in 2019. Within Ohio it ranks 28th by size of the 38 failures recorded since 1934. Across the failures of 2019, the median estimated loss came to 11% of assets. The next-larger failure of that year was Louisa Community Bank of Louisa, Kentucky ($28.2 million, loss 15% of assets). Every 2019 failure in the explorer.
No bank in Ohio has failed since. Lucas County has 3 failed banks on FDIC record since 1934. The others: First Federal Savings and Loan Association (1991), United Home Federal (1991).