Data / Bank failures / 1985 / Tower Bank, N.A.
Tower Bank, N.A., Hialeah Gardens, FL: failed October 3, 1985
Tower Bank, N.A. in Hialeah Gardens, Florida, failed on October 3, 1985. Bayshore Bank of Florida of Miami, FL, took over its deposits. It held $20.5 million in assets and $19.7 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $2.7 million (13.1% of its assets). By assets it was the 113th largest of 180 banks closed or assisted in 1985.
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The FDIC's record
- Closed
- October 3, 1985
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Bayshore Bank of Florida, Miami, FL
- Total assets
- $20,523,000
- Total deposits
- $19,722,000
- Estimated cost to the FDIC
- $2,698,598 (estimate as of July 31, 2026)
- Charter
- National bank (supervised by the OCC)
- Insurance fund
- FDIC
- FDIC certificate
- 24573
Other bank failures in Florida, 1983 to 1987
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| McNulty Banking Company | ST. Petersburg | August 14, 1987 | $56.6 million | $53.2 million | $6.8 million | Barnett BK of Pinellas C |
| Bayshore Bank of Florida | Miami | August 7, 1987 | $41.5 million | $40.3 million | $6.7 million | Eagle National Bank of M |
| Freedom S&LA | Tampa | July 23, 1987 | $1.89 billion | $1.24 billion | ||
| Liberty S&LA | New Port Richey | May 15, 1987 | $98.7 million | $115.5 million | ||
| Southern Floridabanc Sa | Boca Raton | April 16, 1987 | $219.1 million | $256.6 million | ||
| South Florida Savings Bank (assistance) | Davie | March 25, 1987 | $172 million | $176.3 million | $4.2 million | First FS&LA of Jacksonville |
| The County Bank | Manatee County | February 13, 1987 | $187.1 million | $159.6 million | $69.1 million | NCNB NB of Florida |
| Metropolitan FS&LA | Hialeah | August 27, 1986 | $49.8 million | $49.9 million |
All bank failures in 1985 · All bank failures in Florida · 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.