Data / Bank failures / 2009 / Republic Federal Bank, N.A.
Republic Federal Bank, N.A., Miami, FL: failed December 11, 2009
Republic Federal Bank, N.A. in Miami, Florida, failed on December 11, 2009. 1ST United Bank of Boca Raton, FL, took over its deposits. It held $433 million in assets and $352.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $78 million (18% of its assets). By assets it was the 63rd largest of 148 banks closed or assisted in 2009.
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The FDIC's record
- Closed
- December 11, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- 1ST United Bank, Boca Raton, FL
- Total assets
- $433,011,000
- Total deposits
- $352,695,000
- Estimated cost to the FDIC
- $77,976,562 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- DIF
- FDIC certificate
- 22846
Other bank failures in Florida, 2007 to 2011
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Premier Community Bank of the Emerald Coast | Crestview | December 16, 2011 | $126 million | $112.1 million | $25.1 million | Summit Bank, National Association |
| Old Harbor Bank | Clearwater | October 21, 2011 | $209 million | $212.2 million | $26.3 million | 1ST United Bank |
| The First National Bank of Florida | Milton | September 9, 2011 | $296.8 million | $280.1 million | $75.7 million | Charterbank |
| Lydian Private Bank | Palm Beach | August 19, 2011 | $1.70 billion | $1.25 billion | $183.5 million | Sabadell United Bank, National Association |
| Southshore Community Bank | Apollo Beach | July 22, 2011 | $41.3 million | $41.4 million | $11.4 million | American Momentum Bank |
| Landmark Bank of Florida | Sarasota | July 22, 2011 | $266.5 million | $244.4 million | $37.4 million | American Momentum Bank |
| First Peoples Bank | Port Saint Lucie | July 15, 2011 | $225 million | $207.6 million | $13.1 million | Premier American Bank, National Association |
| First Commercial Bank of Tampa Bay | Tampa | June 17, 2011 | $98.6 million | $92.6 million | $33.5 million | Stonegate Bank |
Other failed banks 1ST United Bank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Old Harbor Bank | Clearwater | FL | October 21, 2011 | $209 million | $212.2 million | $26.3 million | 1ST United Bank |
| The Bank of Miami | Coral Gables | FL | December 17, 2010 | $448.2 million | $374.2 million | $29 million | 1ST United Bank |
| Bank of South Palm Beaches | Hypoluxo | FL | August 9, 1991 | $61.3 million | $63.5 million | $31 million | 1ST United Bank |
| First Marine Bank of Florida | Palm City | FL | March 8, 1991 | $17.2 million | $16.8 million | $3.6 million | 1ST United Bank |
All bank failures in 2009 · All bank failures in Florida · Every failed bank 1ST United 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.