Bank failure · FL

Global Bank (Hialeah, FL) — failed February 12, 1988

Global Bank of Hialeah, Florida was closed on February 12, 1988 and resolved through a purchase and assumption. Ocean Bank (FL) took over its insured deposits. At failure it held $21.7M in assets and $20.4M in deposits. The FDIC's estimated loss on the failure is $7.0M (32.2% of assets).