Data / Bank failures / 2010 / Olde Cypress Community Bank
Olde Cypress Community Bank, Clewiston, FL: failed July 16, 2010
Olde Cypress Community Bank in Clewiston, Florida, failed on July 16, 2010. Centerstate Bank of Florida, National Association of Winter Haven, FL, took over its deposits. It held $161.4 million in assets and $158 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $25.5 million (15.8% of its assets). By assets it was the 100th largest of 157 banks closed or assisted in 2010.
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The FDIC's record
- Closed
- July 16, 2010
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Centerstate Bank of Florida, National Association, Winter Haven, FL
- Total assets
- $161,355,000
- Total deposits
- $157,997,000
- Estimated cost to the FDIC
- $25,532,503 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- DIF
- FDIC certificate
- 28864
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 Centerstate Bank of Florida, National Association took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First Guaranty Bank and Trust Company of Jacksonville | Jacksonville | FL | January 27, 2012 | $397.1 million | $378.3 million | $54.4 million | Centerstate Bank of Florida, National Association |
| Central Florida State Bank | Belleview | FL | January 20, 2012 | $71.5 million | $71.1 million | $13.7 million | Centerstate Bank of Florida, National Association |
| Independent National Bank | Ocala | FL | August 20, 2010 | $156.2 million | $141.9 million | $12 million | Centerstate Bank of Florida, National Association |
| Community National Bank at Bartow | Bartow | FL | August 20, 2010 | $67.9 million | $63.7 million | $9.2 million | Centerstate Bank of Florida, National Association |
All bank failures in 2010 · All bank failures in Florida · Every failed bank Centerstate Bank of Florida, 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.