Data / Bank failures / 2010 / The Bank of Bonifay
The Bank of Bonifay, Bonifay, FL: failed May 7, 2010
The Bank of Bonifay in Bonifay, Florida, failed on May 7, 2010. First Federal Bank of Florida of Lake City, FL, took over its deposits. It held $242.9 million in assets and $230.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $65.9 million (27.1% of its assets). By assets it was the 83rd largest of 157 banks closed or assisted in 2010.
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The FDIC's record
- Closed
- May 7, 2010
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Federal Bank of Florida, Lake City, FL
- Total assets
- $242,871,000
- Total deposits
- $230,190,000
- Estimated cost to the FDIC
- $65,887,127 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 14246
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 First Federal Bank of Florida took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Bank of Jackson County | Graceville | FL | October 30, 2013 | $24.7 million | $24.6 million | $5.8 million | First Federal Bank of Florida |
| Chipola Community Bank | Marianna | FL | April 19, 2013 | $37.5 million | $37.1 million | $7.9 million | First Federal Bank of Florida |
| Flagship National Bank | Bradenton | FL | October 23, 2009 | $177.6 million | $170.1 million | $62.1 million | First Federal Bank of Florida |
All bank failures in 2010 · All bank failures in Florida · Every failed bank First Federal Bank of Florida 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.