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  • Bank Failures in 2004

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    Richarnellia-RichieRichBattiest-Collins
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    Three banks failed in 2004 - Bank of Ephraim in Utah with $45.2 million in deposits was assumed by Far West Bank; Reliance Bank in New York with $28 million in deposits was assumed by Union State Bank; and Guaranty National Bank of Tallahassee in Florida with $66.9 million in deposits was assumed by Hancock Bank of Florida. Additionally, Dollar Savings Bank of Newark, New Jersey with $9.8 million in deposits and $12.3 million in assets had its payout approved by the FDIC Board of Directors.

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    Three banks failed in 2004 - Bank of Ephraim in Utah with $45.2 million in deposits was assumed by Far West Bank; Reliance Bank in New York with $28 million in deposits was assumed by Union State Bank; and Guaranty National Bank of Tallahassee in Florida with $66.9 million in deposits was assumed by Hancock Bank of Florida. Additionally, Dollar Savings Bank of Newark, New Jersey with $9.8 million in deposits and $12.3 million in assets had its payout approved by the FDIC Board of Directors.

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    3 views1 page

    Bank Failures in 2004

    Uploaded by

    Richarnellia-RichieRichBattiest-Collins
    Three banks failed in 2004 - Bank of Ephraim in Utah with $45.2 million in deposits was assumed by Far West Bank; Reliance Bank in New York with $28 million in deposits was assumed by Union State Bank; and Guaranty National Bank of Tallahassee in Florida with $66.9 million in deposits was assumed by Hancock Bank of Florida. Additionally, Dollar Savings Bank of Newark, New Jersey with $9.8 million in deposits and $12.3 million in assets had its payout approved by the FDIC Board of Directors.

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    Bank Failures in 2004

    BIF = Bank Insurance Fund SAIF = Savings Association Insurance Fund June 25 (BIF) Bank of Ephraim, Ephraim, Utah, with total deposits of approximately $45.2 million, and approximately $46.4 million in assets was assumed by Far West Bank, Provo, Utah. (PR-69-2004) March 19 (BIF) Reliance Bank, White Plains, New York, with total deposits of approximately $28 million, and approximately $30.3 million in assets was assumed by Union State Bank, Orangeburg, New York. (PR24-2004) March 12 (BIF) Guaranty National Bank of Tallahassee, Tallahassee, Florida, with total deposits of approximately $66.9 million, and approximately $74.1 million in assets was assumed by the Hancock Bank of Florida, Tallahassee, Florida. (PR-21-2004, PR-23-2004) February 14 (SAIF) Dollar Savings Bank of Newark, New Jersey, with total deposits of approximately $9.8 million and total assets of approximately $12.3 million, was for approved payout by the FDIC Board of Directors.(PR-132004)

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