FIs closed: First National Bank of Central Florida, Winter Park, Florida, USA
On Friday, 29 April, 2011, First National Bank of Central Florida, Winter Park, Forida, was closed by the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation (FDIC) was named Receiver.
To protect depositors, the Federal Deposit Insurance Corporation (FDIC) entered into purchase and assumption agreements with Premier American Bank, N.A.
The branches of the closed bank will reopen on Monday as branches of Florida Community Bank, a division of Premier American Bank, N.A.
As of 31 December, 2010, First National Bank of Central Florida had total assets of USD352.0 million and total deposits of USD312.1 million.
No premium was paid for the deposits.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for First National Bank of Central Florida will be USD42.9 million.
The closing is the 35th FDIC-insured institutions to fail in the USA so far this year and the third in Florida.
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