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Bank Failures

2004 in Brief

There were 4 bank failures in 2004. See detailed descriptions below.

For more bank failure information on a specific year, select a date from the drop down menu to the right or select a month within the graph.

2004 Summary by Month

(Approximate asset dollar volume based on figures from the press releases)

Months Jun Mar Mar Feb
Bank Failures 1 1 1 1
Approx. Asset (Millions) 46.40 30.30 74.10 12.30
June Back to Top
Bank Name Press Release Closing Date Approx. Asset (Millions) Approx. Deposit (Millions) Acquirer & Transaction
Bank of Ephraim, Ephraim, UT PR-69-2004 $46.4 $45.2

Far West Bank, Provo, UT agreed to assume all insured deposit accounts. (BIF)
March Back to Top
Bank Name Press Release Closing Date Approx. Asset (Millions) Approx. Deposit (Millions) Acquirer & Transaction
Reliance Bank, White Plains, NY PR-24-2004 $30.3 $28.0 Union State Bank, Orangeburg, NY agreed to assume all deposits. (BIF)
Guaranty National Bank of Tallahassee, Tallahassee, FL PR-23-2004, PR-21-2004 $74.1 $66.9 Hancock Bank of Florida, Tallahassee, FL agreed to assume all deposits. (BIF)
February Back to Top
Bank Name Press Release Closing Date Approx. Asset (Millions) Approx. Deposit (Millions) Acquirer & Transaction
Dollar Savings Bank, Newark, NJ PR-13-2004 $12.3 $9.8

The FDIC has approved the payout of the insured deposits of Dollar Savings Bank of Newark. (SAIF)
*SAIF = Savings Association Insurance Fund **BIF = Bank Insurance Fund