Bank failure · FL

Tower Bank, N.A. (Hialeah Gardens, FL) — failed October 3, 1985

Tower Bank, N.A. of Hialeah Gardens, Florida was closed on October 3, 1985 and resolved through a purchase and assumption. Bayshore Bank of Florida (FL) took over its insured deposits. At failure it held $20.5M in assets and $19.7M in deposits. The FDIC's estimated loss on the failure is $2.7M (13.1% of assets).