Failed Bank List

Closed Friday, January 21, 2011 · Denver, Denver County, Colorado

United Western Bank

United Western Bank was the third-largest of the 92 bank failures in 2011. Of the 98 failed banks on record in Colorado since 1934, it ranks second by size. First-Citizens Bank & Trust Company took over twelve failed banks after 2000, this one among them.

On the books, 2003 to 2010

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$800M$1.6B$2.4B$3.2B2004200520062007200820092010Closed
Total assets peaked at $2.6 billion in the third quarter of 2009 and were 17% lower at the final report. Equity capital went from 6.4% of assets in the first quarter of 2003 to 3.3% at the last report. The deepest annual loss, $108 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$120M−$120M2003: $10.3 million20036.4%2004: $11.6 million20046.5%2005: $10.9 million20056.3%2006: $18.0 million20066.9%2007: $15.3 million20077.1%2008: $13.7 million20086.8%2009: −$69.4 million20097.5%2010: −$108 million20103.3%

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; United Western Bank in red.

Across the failures of 2011, the median estimated loss came to 23% of assets. Ranked by estimated loss, it is 276th of 2,944 failures since 1934. In the size ranking of that year, just above it was First Community Bank of Taos, New Mexico ($2.2 billion, loss 11% of assets); just below, Integra Bank National Association of Evansville, Indiana ($2.0 billion, loss 1.3% of assets). Every 2011 failure in the explorer.

Three other banks closed that day; the largest was CommunitySouth Bank and Trust of Easley, South Carolina, at $341 million.

Failures in Colorado

United Western Bank was one of six banks in Colorado to fail in 2011. The previous failure there was Southern Colorado National Bank of Pueblo, on October 2, 2009. The next was FirsTier Bank of Louisville, on January 28, 2011. Denver County has 22 failed banks on FDIC record since 1934. Closest in time: Dominion National Bank of Denver (1990), Rocky Mountain National Bank (1990), The National City Bank of Denver (1990), Cherry Creek National Bank (1990), Premier Bank (2015).

Bank failures in Colorado per year, 1980 to 2026051015201981: 11983: 11984: 21985: 71986: 71987: 141988: 111989: 201990: 111991: 31993: 11998: 12009: 32011: 62015: 119801990200020102020
Per year since 1980, 2011 in red. Every Colorado failure

The acquiring bank

First-Citizens Bank & Trust Company of Raleigh, North Carolina took over twelve failed banks between 2000 and 2026. The others:

All 12 banks it took over.

  • Temecula Valley BankTemecula, CA · July 17, 2009
  • Venture BankLacey, WA · September 11, 2009
  • First Regional BankLos Angeles, CA · January 29, 2010
  • Sun American BankBoca Raton, FL · March 5, 2010
  • Colorado Capital BankCastle Rock, CO · July 8, 2011
  • Capitol City Bank & Trust CompanyAtlanta, GA · February 13, 2015
  • North Milwaukee State BankMilwaukee, WI · March 11, 2016
  • First CornerStone BankKing of Prussia, PA · May 6, 2016
  • Harvest Community BankPennsville, NJ · January 13, 2017
  • Guaranty Bank, (d/b/a BestBank in Georgia & Michigan)Milwaukee, WI · May 5, 2017

FDIC certificate 31293 · loss estimate as of July 31, 2026 · How to read this page