Data / Bank failures / 2012 / First East Side Savings Bank
First East Side Savings Bank, Tamarac, FL: failed October 19, 2012
First East Side Savings Bank in Tamarac, Florida, failed on October 19, 2012. Stearns Bank National Association of ST. Cloud, MN, took over its deposits. It held $65.7 million in assets and $64.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $12.4 million (18.8% of its assets). By assets it was the 43rd largest of 51 banks closed or assisted in 2012.
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The FDIC's record
- Closed
- October 19, 2012
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Stearns Bank National Association, ST. Cloud, MN
- Total assets
- $65,686,000
- Total deposits
- $64,888,000
- Estimated cost to the FDIC
- $12,370,234 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- DIF
- FDIC certificate
- 28144
Other bank failures in Florida, 2010 to 2014
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Valley Bank | Fort Lauderdale | June 20, 2014 | $81.8 million | $66.5 million | $5.4 million | Landmark Bank, National Association |
| Bank of Jackson County | Graceville | October 30, 2013 | $24.7 million | $24.6 million | $5.8 million | First Federal Bank of Florida |
| First Community Bank of Southwest Florida | Fort Myers | August 2, 2013 | $247.3 million | $243.6 million | $24.9 million | C1 Bank |
| Chipola Community Bank | Marianna | April 19, 2013 | $37.5 million | $37.1 million | $7.9 million | First Federal Bank of Florida |
| Heritage Bank of North Florida | Orange Park | April 19, 2013 | $104 million | $106.3 million | $25.2 million | Firstatlantic Bank |
| Heritage Bank of Florida | Lutz | November 2, 2012 | $225.5 million | $223.3 million | $73.8 million | Centennial Bank |
| Gulfsouth Private Bank | Destin | October 19, 2012 | $139.4 million | $131.6 million | $40.3 million | Smartbank |
| The Royal Palm Bank of Florida | Naples | July 20, 2012 | $78.8 million | $78.9 million | $16.8 million | First National Bank of the Gulf Coast |
Other failed banks Stearns Bank National Association took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Jasper Banking Company | Jasper | GA | July 27, 2012 | $206.7 million | $204.2 million | $49.2 million | Stearns Bank National Association |
All bank failures in 2012 · All bank failures in Florida · Every failed bank Stearns Bank National Association 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.