Data / Bank failures / 2010 / First Banking Center
First Banking Center, Burlington, WI: failed November 19, 2010
First Banking Center in Burlington, Wisconsin, failed on November 19, 2010. First Michigan Bank of Troy, MI, took over its deposits. It held $750.7 million in assets and $664.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $86.1 million (11.5% of its assets). By assets it was the 27th largest of 157 banks closed or assisted in 2010.
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The FDIC's record
- Closed
- November 19, 2010
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Michigan Bank, Troy, MI
- Total assets
- $750,724,000
- Total deposits
- $664,752,000
- Estimated cost to the FDIC
- $86,070,554 (estimate as of July 31, 2026)
- Charter
- State member bank (Federal Reserve)
- Insurance fund
- DIF
- FDIC certificate
- 5287
Other bank failures in Wisconsin, 2008 to 2012
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Legacy Bank | Milwaukee | March 11, 2011 | $190.4 million | $183.3 million | $73.7 million | Seaway Bank and Trust Company |
| Badger State Bank | Cassville | February 11, 2011 | $83.8 million | $78.5 million | $19.5 million | Royal Bank |
| Evergreen State Bank | Stoughton | January 28, 2011 | $240.9 million | $193.7 million | $28.1 million | McFarland State Bank |
| Maritime Savings Bank | West Allis | September 17, 2010 | $350.5 million | $248.1 million | $88.4 million | North Shore Bank, FSB |
| Bank of Elmwood | Racine | October 23, 2009 | $327.4 million | $272.8 million | $99.5 million | Tri City National Bank |
Other failed banks First Michigan Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Peoples State Bank | Hamtramck | MI | February 11, 2011 | $390.5 million | $389.9 million | $103.1 million | First Michigan Bank |
| CF Bancorp | Port Huron | MI | April 30, 2010 | $1.60 billion | $1.42 billion | $340.6 million | First Michigan Bank |
All bank failures in 2010 · All bank failures in Wisconsin · Every failed bank First Michigan Bank took over · 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.