Bank failure · FL

First Guaranty Bank and Trust Company of Jacksonville (Jacksonville, FL) — failed January 27, 2012

First Guaranty Bank and Trust Company of Jacksonville of Jacksonville, Florida was closed on January 27, 2012 and resolved through a purchase and assumption. Centerstate Bank of Florida, National Association (FL) took over its insured deposits. At failure it held $397.1M in assets and $378.3M in deposits. The FDIC's estimated loss on the failure is $54.4M (13.7% of assets).