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Bank Failures

2017 in Brief

There were 8 bank failures in 2017. 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.

2017 Summary by Month

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

Months	Dec	Oct	May	May	Apr	Mar	Jan	Jan
Bank Failures	1	1	1	1	1	1	1	1
Approx. Asset (Millions)	166.30	34.20	34.40	1000.00	4740.00	68.20	361.20	126.40

December Back to Top
Bank Name	Press Release	Closing Date	Approx. Asset (Millions)	Approx. Deposit (Millions)	Acquirer & Transaction
Washington Federal Bank for Savings, Chicago, IL	PR-96-2017	December 15, 2017	$166.3	$144.0	Royal Savings Bank has agreed to assume the non-brokered insured deposits.

October Back to Top
Bank Name	Press Release	Closing Date	Approx. Asset (Millions)	Approx. Deposit (Millions)	Acquirer & Transaction
The Farmers and Merchants State Bank of Argonia, Argonia, KS	PR-80-2017	October 13, 2017	$34.2	$29.6	Conway Bank has agreed to assume all deposits.

May Back to Top
Bank Name	Press Release	Closing Date	Approx. Asset (Millions)	Approx. Deposit (Millions)	Acquirer & Transaction
Fayette County Bank, Saint Elmo, IL	PR-41-2017	May 26, 2017	$34.4	$34.0	United Fidelity Bank, fsb has agreed to assume all deposits.
Guaranty Bank, (d/b/a BestBank in Georgia & Michigan), Milwaukee, WI	PR-37-2017	May 5, 2017	$1,000.0	$1,000.0	First-Citizens Bank & Trust Company has agreed to assume all deposits.

April Back to Top
Bank Name	Press Release	Closing Date	Approx. Asset (Millions)	Approx. Deposit (Millions)	Acquirer & Transaction
First NBC Bank, New Orleans, LA	PR-34-2017	April 28, 2017	$4,740.0	$3,540.0	Whitney Bank has agreed to assume the transactional deposits (approximately $1.6 billion), and to purchase approximately $1 billion of the failed bank's assets. The FDIC mailed checks for the time deposits (CDs and IRAs) and retained the remaining assets for later disposition.

March Back to Top
Bank Name	Press Release	Closing Date	Approx. Asset (Millions)	Approx. Deposit (Millions)	Acquirer & Transaction
Proficio Bank, Cottonwood Heights, UT	PR-19-2017	March 3, 2017	$68.2	$65.0	Cache Valley Bank has agreed to assume all deposits.

January Back to Top
Bank Name	Press Release	Closing Date	Approx. Asset (Millions)	Approx. Deposit (Millions)	Acquirer & Transaction
Seaway Bank and Trust Company, Chicago, IL	PR-9-2017	January 27, 2017	$361.2	$307.1	State Bank of Texas has agreed to assume all deposits.
Harvest Community Bank, Pennsville, NJ	PR-4-2017	January 13, 2017	$126.4	$123.8	First-Citizens Bank & Trust Company has agreed to assume all deposits.