Bank failure · FL

Peoples Nb of Commerce (Miami, FL) — failed September 10, 1999

Peoples Nb of Commerce of Miami, Florida was closed on September 10, 1999 and resolved through a purchase and assumption. Boston Bank of Commerce (MA) took over its insured deposits. At failure it held $36.8M in assets and $35.9M in deposits. The FDIC's estimated loss on the failure is $3.3M (9.1% of assets).