Data / Bank failures / 1999 / Oceanmark Bank, A FSB
Oceanmark Bank, A FSB, North Miami Beach, FL: failed July 9, 1999
Oceanmark Bank, A FSB in North Miami Beach, Florida, failed on July 9, 1999. Third FS&LA of Florida of North Miami Beac, FL, took over its deposits. It held $69 million in assets and $61.3 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $1.2 million (1.7% of its assets). By assets it was the 5th largest of 8 banks closed or assisted in 1999.
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The FDIC's record
- Closed
- July 9, 1999
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Third FS&LA of Florida, North Miami Beac, FL
- Total assets
- $68,981,000
- Total deposits
- $61,303,000
- Estimated cost to the FDIC
- $1,194,552 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- SAIF
- FDIC certificate
- 32491
Other bank failures in Florida, 1997 to 2001
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Peoples NB of Commerce | Miami | September 10, 1999 | $36.8 million | $35.9 million | $3.3 million | Boston Bank of Commerce |
All bank failures in 1999 · 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.