Partners Bank of Naples, Fla., with $65.5 million in assets, has roughly $64.9 million in deposits, ABC News reported.
The Federal Deposit Insurance Corp. said the bank would be open for business Monday with its two branches adopted by Stonegate Bank.
In a YouTube video, FDIC Chairwoman Sheila Bair said, "I want to take this opportunity to reassure consumers that their insured deposits are absolutely safe."
Accounts up to $250,000 are insured by the federal government, but the FDIC insurance fund turned negative late last month, ABC reported.
In addition, the FDIC predicts the fund will require $100 billion through 2013, as more banks are expected to fail. The FDIC now has 416 banks on its list of troubled firms.
To replenish the fund, the agency has proposed banks pay three years of FDIC fees in advance, which would add $45 billion to its emergency fund.
Copyright 2009 by United Press International.
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