Data / Bank failures / 2008 / Freedom Bank
Freedom Bank, Bradenton, FL: failed October 31, 2008
Freedom Bank in Bradenton, Florida, failed on October 31, 2008. Fifth Third Bank of Grand Rapids, MI, took over its deposits. It held $270.8 million in assets and $256.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $113.5 million (41.9% of its assets). By assets it was the 20th largest of 30 banks closed or assisted in 2008.
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The FDIC's record
- Closed
- October 31, 2008
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Fifth Third Bank, Grand Rapids, MI
- Total assets
- $270,842,000
- Total deposits
- $256,793,000
- Estimated cost to the FDIC
- $113,456,301 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 57930
Other bank failures in Florida, 2006 to 2010
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| The Bank of Miami | Coral Gables | December 17, 2010 | $448.2 million | $374.2 million | $29 million | 1ST United Bank |
| Gulf State Community Bank | Carrabelle | November 19, 2010 | $112.1 million | $112.2 million | $44.4 million | Centennial Bank |
| Progress Bank of Florida | Tampa | October 22, 2010 | $94.8 million | $86.9 million | $34.6 million | Bay Cities Bank |
| First Bank of Jacksonville | Jacksonville | October 22, 2010 | $73.9 million | $72.2 million | $14.3 million | Ameris Bank |
| Wakulla Bank | Crawfordville | October 1, 2010 | $402.2 million | $367.2 million | $119.9 million | Centennial Bank |
| Haven Trust Bank Florida | Ponte Vedra Beach | September 24, 2010 | $148.6 million | $133.6 million | $34.8 million | First Southern Bank |
| Horizon Bank | Bradenton | September 10, 2010 | $187.8 million | $164.6 million | $61.3 million | Bank of the Ozarks |
| Independent National Bank | Ocala | August 20, 2010 | $156.2 million | $141.9 million | $12 million | Centerstate Bank of Florida, National Association |
All bank failures in 2008 · All bank failures in Florida · 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.