First State Bank
Sarasota, FL · Owner: First State Financial Corp
$448M
total assets, June 30, 2009
$448M
total assets, June 30, 2009
First State Bank was a state nonmember bank in Sarasota, FL, owned by First State Financial Corp. It failed on Aug 7, 2009, and Stearns Bank, National Association took over its deposits. At its last report it held $447.7 million in assets.
Updated Oct 11, 2026 · numbers as of June 30, 2009
This bank failed
- Failed on
- Aug 7, 2009
- Assets
- $448M
- Deposits
- $395M
- Estimated cost
- $119M
- Deposits went to
- Stearns Bank, National Association, ST. Cloud, MN
Total assets
$448M
-5.0% in a year · +1.6% in a quarter
Deposits
$395M
+6.4% in a year · +3.4% in a quarter
Loans
$363M
-5.1% in a year · +0.8% in a quarter
Profit so far
-$22.5M
Jan 1 to Jun 30, 2009
Capital ratio
1.18%
-8.46 pts in a year
Return on assets
-9.97%
-8.58 pts in a year
Facts
- Type
- State nonmember bank
- Head office
- 22 South Links Avenue, Sarasota, FL, 34236
- County
- Sarasota
- Holding company
- First State Financial Corp
- Established
- Oct 27, 1988
- Failed
- Aug 7, 2009
- Employees
- 120
- Branches
- 9
- Id
- b27364
Quarter by quarter
December 31, 1988 to June 30, 2009
Assets, deposits and loans
Each quarter end, US dollars
Profit by quarter
Net income of each quarter, the last 12
Ratios
Percent. Return on assets and net interest margin are yearly rates.
Related pages
Questions and answers
How big is First State Bank?
$447.7 million in total assets and $394.7 million in deposits as of June 30, 2009, with assets down 5.0% from a year before. Its loans were $362.8 million.
How many branches does First State Bank have?
9 branches in Florida as of June 30, 2026.
Is First State Bank profitable?
No: it lost $22.5 million from January 1 to June 30, 2009. Its return on assets was -9.97% a year; about 1% is typical.
Who owns First State Bank?
First State Bank is owned by First State Financial Corp, its holding company.
When did First State Bank fail?
Aug 7, 2009. Stearns Bank, National Association of ST. Cloud, MN took over its deposits. The estimated cost of the failure was $119.5 million.
Official public data from the reports every insured bank files each quarter. Profit so far runs from January 1 to the quarter end. Branch deposits are counted once a year, as of June 30. New quarters appear about two months after the quarter ends.