Bank failure · FL

First Marine Bank of Florida (Palm City, FL) — failed March 8, 1991

First Marine Bank of Florida of Palm City, Florida was closed on March 8, 1991 and resolved through a purchase and assumption. 1st United Bank (FL) took over its insured deposits. At failure it held $17.2M in assets and $16.8M in deposits. The FDIC's estimated loss on the failure is $3.6M (20.7% of assets).