Bank failure · FL

Hillcrest Bank Florida (Naples, FL) — failed October 23, 2009

Hillcrest Bank Florida of Naples, Florida was closed on October 23, 2009 and resolved through a purchase and assumption. Stonegate Bank (FL) took over its insured deposits. At failure it held $82.8M in assets and $83.3M in deposits. The FDIC's estimated loss on the failure is $43.0M (51.9% of assets).