Advanta Bank

Advanta Bank was established on August 1, 1927, originally under the name Colonial National Bank. The institution underwent several name changes, first becoming Colonial National Bank USA in May 1985. In November 1991, the main office was relocated to Claymont, Delaware. The institution continued to evolve, changing its name to Advanta National Bank USA on May 20, 1996, and moving its main office to Wilmington, Delaware, later that year. On June 30, 1997, Advanta National Bank acquired Advanta National Bank, further solidifying its identity. The bank made a significant transition on May 3, 2007, by changing its name to Advanta Bank and becoming a state-chartered bank that was not a member of the Federal Reserve System. It also changed its primary federal regulatory agency to the Federal Deposit Insurance Corporation (FDIC) that same day. After over three years of operating under this new structure, Advanta Bank voluntarily closed and liquidated its assets on June 30, 2010.

Below is a list of some important events in banks history, including mergers and acquisitions.

1927-08-01Institution established. Original name: Colonial National Bank.

1985-05-03Changed Institution Name to Colonial National Bank Usa.

1991-11-01Main Office moved to 650 Namaans Road, Claymont, DE 19703.

1996-05-20Changed Institution Name to Advanta National Bank Usa.

1996-12-02Main Office moved to One Righter Parkway, Delaware Corporate Center 1, Wilmington, DE 19803.

1997-06-30Changed Institution Name to Advanta National Bank.

1997-06-30Acquired Advanta National Bank in Wilmington, DE.

2007-05-03Institution withdraws from membership in the Federal Reserve System.

2007-05-03Changed Chartering Agency to State.

2007-05-03Changed Bank Class to State Chartered Bank, not member of the Federal Reserve System (FRS).

2007-05-03Changed Primary Federal Regulatory Agency to FDIC.

2007-05-03Changed Institution Name to Advanta Bank.

2010-06-30Closed voluntarily and liquidated its assets.