Data / Bank failures / 2010 / Advanta Bank Corp.
Advanta Bank Corp., Draper, UT: failed March 19, 2010
Advanta Bank Corp. in Draper, Utah, failed on March 19, 2010. It held $1.53 billion in assets and $1.52 billion in deposits at its last report. The FDIC estimates the cost to its insurance fund at $521.5 million (34.2% of its assets). By assets it was the 14th largest of 157 banks closed or assisted in 2010.
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The FDIC's record
- Closed
- March 19, 2010
- Type
- Failure
- How it was resolved
- Payout: the FDIC paid insured depositors directly
- Total assets
- $1,525,931,000
- Total deposits
- $1,519,471,000
- Estimated cost to the FDIC
- $521,524,763 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 33535
Other bank failures in Utah, 2008 to 2012
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Sunfirst Bank | Saint George | November 4, 2011 | $198.1 million | $169.1 million | $43.6 million | Cache Valley Bank |
| Centennial Bank | Ogden | March 5, 2010 | $212.8 million | $205.1 million | $70.5 million | |
| Barnes Banking Company | Kaysville | January 15, 2010 | $709.2 million | $697.1 million | $106.8 million | |
| America West Bank | Layton | May 1, 2009 | $281.6 million | $286 million | $114.4 million | Cache Valley Bank |
| Magnet Bank | Salt Lake City | January 30, 2009 | $300.7 million | $282.6 million | $170.1 million | |
| Merrill Lynch Bank USA (assistance) | Salt Lake City | January 16, 2009 | $61.81 billion | $53.62 billion |
All bank failures in 2010 · All bank failures in Utah · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.