Data / Bank failures / 2009 / Suburban Federal Savings Bank
Suburban Federal Savings Bank, Crofton, MD: failed January 30, 2009
Suburban Federal Savings Bank in Crofton, Maryland, failed on January 30, 2009. Bank of Essex of Tappahannock, VA, took over its deposits. It held $347.4 million in assets and $301.8 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $73.8 million (21.2% of its assets). By assets it was the 68th largest of 148 banks closed or assisted in 2009.
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The FDIC's record
- Closed
- January 30, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Bank of Essex, Tappahannock, VA
- Total assets
- $347,408,000
- Total deposits
- $301,847,000
- Estimated cost to the FDIC
- $73,818,806 (estimate as of July 31, 2026)
- Charter
- Savings bank
- Insurance fund
- DIF
- FDIC certificate
- 30763
Other bank failures in Maryland, 2007 to 2011
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| K Bank | Randallstown | November 5, 2010 | $538.3 million | $500.1 million | $136.3 million | Manufacturers and Traders Trust Company |
| Bay National Bank | Baltimore | July 9, 2010 | $217.7 million | $212.6 million | $21.1 million | Bay Bank, FSB |
| Ideal Federal Savings Bank | Baltimore | July 9, 2010 | $6.2 million | $5.8 million | $3.7 million | |
| Waterfield Bank | Germantown | March 5, 2010 | $155.6 million | $156.2 million | $11.3 million | |
| Bradford Bank | Baltimore | August 28, 2009 | $451.9 million | $382.2 million | $46.9 million | Manufacturers and Traders Trust Company |
Other failed banks Bank of Essex took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| The Community Bank | Loganville | GA | November 21, 2008 | $634.9 million | $603.7 million | $335.1 million | Bank of Essex |
All bank failures in 2009 · All bank failures in Maryland · Every failed bank Bank of Essex 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.