Data / Bank failures / 2010 / Libertypointe Bank
Libertypointe Bank, New York, NY: failed March 11, 2010
Libertypointe Bank in New York, New York, failed on March 11, 2010. Valley National Bank of Wayne, NJ, took over its deposits. It held $216.5 million in assets and $209.5 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $18.4 million (8.5% of its assets). By assets it was the 89th largest of 157 banks closed or assisted in 2010.
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
- March 11, 2010
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Valley National Bank, Wayne, NJ
- Total assets
- $216,500,000
- Total deposits
- $209,477,000
- Estimated cost to the FDIC
- $18,406,680 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 58071
Other bank failures in New York, 2008 to 2012
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| USA Bank | Port Chester | July 9, 2010 | $190.7 million | $188.6 million | $63.5 million | New Century Bank |
| The Park Avenue Bank | New York | March 12, 2010 | $520.1 million | $494.5 million | $76.4 million | Valley National Bank |
| Waterford Village Bank | Williamsville | July 24, 2009 | $55.7 million | $56.1 million | $7.9 million | Evans Bank National Association |
| Merrill Lynch Bank & Trust Co FSB (assistance) | New York | January 16, 2009 | $37.99 billion | $28.54 billion |
Other failed banks Valley National Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The Park Avenue Bank | New York | NY | March 12, 2010 | $520.1 million | $494.5 million | $76.4 million | Valley National Bank |
| Powder Mill Bank | Morris Plains | NJ | May 22, 1992 | $49.6 million | $47.9 million | $6.9 million | Valley National Bank |
All bank failures in 2010 · All bank failures in New York · Every failed bank Valley National 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.