Data / Bank failures / 1999 / Peoples NB of Commerce
Peoples NB of Commerce, Miami, FL: failed September 10, 1999
Peoples NB of Commerce in Miami, Florida, failed on September 10, 1999. Boston Bank of Commerce of Boston, MA, took over its deposits. It held $36.8 million in assets and $35.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $3.3 million (9.1% of its assets). By assets it was the 6th largest of 8 banks closed or assisted in 1999.
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
- September 10, 1999
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Boston Bank of Commerce, Boston, MA
- Total assets
- $36,823,000
- Total deposits
- $35,946,000
- Estimated cost to the FDIC
- $3,341,669 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- BIF
- FDIC certificate
- 18147
Other bank failures in Florida, 1997 to 2001
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Oceanmark Bank, A FSB | North Miami Beach | July 9, 1999 | $69 million | $61.3 million | $1.2 million | Third FS&LA of Florida |
Other failed banks Boston Bank of Commerce took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Unity BK & TR Company | Boston | MA | July 30, 1982 | $12.8 million | $11.5 million | $2.8 million | Boston Bank of Commerce |
All bank failures in 1999 · All bank failures in Florida · Every failed bank Boston Bank of Commerce 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.