Data / Bank failures / 2010 / First Federal Bank of North Florida
First Federal Bank of North Florida, Palatka, FL: failed April 16, 2010
First Federal Bank of North Florida in Palatka, Florida, failed on April 16, 2010. TD Bank, National Association of Wilmington, DE, took over its deposits. It held $440.1 million in assets and $369.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $12 million (2.7% of its assets). By assets it was the 53rd largest of 157 banks closed or assisted in 2010.
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The FDIC's record
- Closed
- April 16, 2010
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- TD Bank, National Association, Wilmington, DE
- Total assets
- $440,122,000
- Total deposits
- $369,617,000
- Estimated cost to the FDIC
- $11,968,784 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- DIF
- FDIC certificate
- 28886
Other bank failures in Florida, 2008 to 2012
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| 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 |
| First East Side Savings Bank | Tamarac | October 19, 2012 | $65.7 million | $64.9 million | $12.4 million | Stearns Bank National Association |
| 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 |
| Putnam State Bank | Palatka | June 15, 2012 | $169.5 million | $160 million | $28.8 million | Harbor Community Bank |
| Security Bank, National Association | North Lauderdale | May 4, 2012 | $101 million | $99.1 million | $15.1 million | Banesco USA |
| First Guaranty Bank and Trust Company of Jacksonville | Jacksonville | January 27, 2012 | $397.1 million | $378.3 million | $54.4 million | Centerstate Bank of Florida, National Association |
| Central Florida State Bank | Belleview | January 20, 2012 | $71.5 million | $71.1 million | $13.7 million | Centerstate Bank of Florida, National Association |
Other failed banks TD Bank, National Association took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Americanfirst Bank | Clermont | FL | April 16, 2010 | $104 million | $100.1 million | $16.4 million | TD Bank, National Association |
| Riverside National Bank of Florida | Fort Pierce | FL | April 16, 2010 | $3.39 billion | $2.72 billion | TD Bank, National Association |
All bank failures in 2010 · All bank failures in Florida · Every failed bank TD 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.