Sun American Bank
Boca Raton, FL · Owner: Sun American Bcorp
$536M
total assets, December 31, 2009
$536M
total assets, December 31, 2009
Sun American Bank was a state member bank in Boca Raton, FL, owned by Sun American Bcorp. It failed on Mar 5, 2010, and First-citizens Bank took over its deposits. At its last report it held $535.7 million in assets.
Updated Oct 11, 2026 · numbers as of December 31, 2009
This bank failed
- Failed on
- Mar 5, 2010
- Assets
- $536M
- Deposits
- $443M
- Estimated cost
- $122M
- Deposits went to
- First-citizens Bank, Raleigh, NC
Total assets
$536M
-9.2% in a year · -3.5% in a quarter
Deposits
$443M
-0.1% in a year · -2.8% in a quarter
Loans
$424M
-10.3% in a year · -2.3% in a quarter
Profit so far
-$40.0M
Jan 1 to Dec 31, 2009
Capital ratio
1.74%
-6.44 pts in a year
Return on assets
-6.99%
+1.63 pts in a year
Facts
- Type
- State member bank
- Head office
- 9293 Glades Road, Boca Raton, FL, 33434
- County
- Palm Beach
- Holding company
- Sun American Bcorp
- Established
- Dec 4, 1987
- Failed
- Mar 5, 2010
- Employees
- 118
- Branches
- 14
- Id
- b27126
Quarter by quarter
December 31, 1987 to December 31, 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 Sun American Bank?
$535.7 million in total assets and $443.5 million in deposits as of December 31, 2009, with assets down 9.2% from a year before. Its loans were $424.1 million.
How many branches does Sun American Bank have?
14 branches in Florida as of June 30, 2026.
Is Sun American Bank profitable?
No: it lost $40.0 million from January 1 to December 31, 2009. Its return on assets was -6.99% a year; about 1% is typical.
Who owns Sun American Bank?
Sun American Bank is owned by Sun American Bcorp, its holding company.
When did Sun American Bank fail?
Mar 5, 2010. First-citizens Bank of Raleigh, NC took over its deposits. The estimated cost of the failure was $122.3 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.