Bank failure · FL

Oceanmark Bank, a FSB (North Miami Beach, FL) — failed July 9, 1999

Oceanmark Bank, a FSB of North Miami Beach, Florida was closed on July 9, 1999 and resolved through a purchase and assumption. Third Fs&la of Florida (FL) took over its insured deposits. At failure it held $69.0M in assets and $61.3M in deposits. The FDIC's estimated loss on the failure is $1.2M (1.7% of assets).