Bank failure · UT
Proficio Bank (Cottonwood Heights, UT) — failed March 3, 2017
Proficio Bank of Cottonwood Heights, Utah was closed on March 3, 2017 and resolved through a purchase and assumption. Cache Valley Bank (UT) took over its insured deposits. At failure it held $68.2M in assets and $65.0M in deposits. The FDIC's estimated loss on the failure is $10.1M (14.9% of assets).
- Closing date
- March 3, 2017
- FDIC certificate #
- 35495
- Resolution
- Purchase and assumption (failure)
- Acquiring institution
- Cache Valley Bank
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials