Data / Bank failures / 2011 / Sunshine State Community Bank
Sunshine State Community Bank, Port Orange, FL: failed February 11, 2011
Sunshine State Community Bank in Port Orange, Florida, failed on February 11, 2011. Premier American Bank, National Association of Miami, FL, took over its deposits. It held $125.5 million in assets and $116.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $32.3 million (25.7% of its assets). By assets it was the 69th largest of 92 banks closed or assisted in 2011.
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The FDIC's record
- Closed
- February 11, 2011
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Premier American Bank, National Association, Miami, FL
- Total assets
- $125,531,000
- Total deposits
- $116,715,000
- Estimated cost to the FDIC
- $32,293,529 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 35478
Other bank failures in Florida, 2009 to 2013
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Bank of Jackson County | Graceville | October 30, 2013 | $24.7 million | $24.6 million | $5.8 million | First Federal Bank of Florida |
| First Community Bank of Southwest Florida | Fort Myers | August 2, 2013 | $247.3 million | $243.6 million | $24.9 million | C1 Bank |
| Chipola Community Bank | Marianna | April 19, 2013 | $37.5 million | $37.1 million | $7.9 million | First Federal Bank of Florida |
| Heritage Bank of North Florida | Orange Park | April 19, 2013 | $104 million | $106.3 million | $25.2 million | Firstatlantic Bank |
| 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 |
Other failed banks Premier American Bank, National Association took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| First Peoples Bank | Port Saint Lucie | FL | July 15, 2011 | $225 million | $207.6 million | $13.1 million | Premier American Bank, National Association |
| Coastal Bank | Cocoa Beach | FL | May 6, 2011 | $129.4 million | $124 million | $18.5 million | Premier American Bank, National Association |
| Cortez Community Bank | Brooksville | FL | April 29, 2011 | $66.3 million | $65.4 million | $17.2 million | Premier American Bank, National Association |
| First National Bank of Central Florida | Winter Park | FL | April 29, 2011 | $342.1 million | $308.8 million | $42.9 million | Premier American Bank, National Association |
| Florida Community Bank | Immokalee | FL | January 29, 2010 | $835.7 million | $776.6 million | $309 million | Premier American Bank, National Association |
| Premier American Bank | Miami | FL | January 22, 2010 | $299.2 million | $285.6 million | $84.5 million | Premier American Bank, National Association |
All bank failures in 2011 · All bank failures in Florida · Every failed bank Premier American Bank, 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.