Data / Bank failures / 2009 / Flagship National Bank
Flagship National Bank, Bradenton, FL: failed October 23, 2009
Flagship National Bank in Bradenton, Florida, failed on October 23, 2009. First Federal Bank of Florida of Lake City, FL, took over its deposits. It held $177.6 million in assets and $170.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $62.1 million (35% of its assets). By assets it was the 96th largest of 148 banks closed or assisted in 2009.
SpecStream is the live web data engine for teams and agents. It reads the FDIC failed bank data every morning, and this page is that reading. Ask for the banks you follow and each new closure arrives in your sheet, CRM, Slack or agent as the FDIC announces it.
The FDIC's record
- Closed
- October 23, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Federal Bank of Florida, Lake City, FL
- Total assets
- $177,563,000
- Total deposits
- $170,118,000
- Estimated cost to the FDIC
- $62,112,171 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- DIF
- FDIC certificate
- 35044
Other bank failures in Florida, 2007 to 2011
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Premier Community Bank of the Emerald Coast | Crestview | December 16, 2011 | $126 million | $112.1 million | $25.1 million | Summit Bank, National Association |
| Old Harbor Bank | Clearwater | October 21, 2011 | $209 million | $212.2 million | $26.3 million | 1ST United Bank |
| The First National Bank of Florida | Milton | September 9, 2011 | $296.8 million | $280.1 million | $75.7 million | Charterbank |
| Lydian Private Bank | Palm Beach | August 19, 2011 | $1.70 billion | $1.25 billion | $183.5 million | Sabadell United Bank, National Association |
| Southshore Community Bank | Apollo Beach | July 22, 2011 | $41.3 million | $41.4 million | $11.4 million | American Momentum Bank |
| Landmark Bank of Florida | Sarasota | July 22, 2011 | $266.5 million | $244.4 million | $37.4 million | American Momentum Bank |
| First Peoples Bank | Port Saint Lucie | July 15, 2011 | $225 million | $207.6 million | $13.1 million | Premier American Bank, National Association |
| First Commercial Bank of Tampa Bay | Tampa | June 17, 2011 | $98.6 million | $92.6 million | $33.5 million | Stonegate Bank |
Other failed banks First Federal Bank of Florida took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Bank of Jackson County | Graceville | FL | October 30, 2013 | $24.7 million | $24.6 million | $5.8 million | First Federal Bank of Florida |
| Chipola Community Bank | Marianna | FL | April 19, 2013 | $37.5 million | $37.1 million | $7.9 million | First Federal Bank of Florida |
| The Bank of Bonifay | Bonifay | FL | May 7, 2010 | $242.9 million | $230.2 million | $65.9 million | First Federal Bank of Florida |
All bank failures in 2009 · All bank failures in Florida · Every failed bank First Federal Bank of Florida 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.