Superior Bank of Alabama Becomes First Billion Dollar Bank Failure of 2011

Superior Bank of Birmingham, Alabama, was closed today by the Office of Thrift Supervision, which appointed the FDIC as receiver.  To protect depositors, the FDIC sold Superior Bank to Superior Bank, N.A., a newly chartered bank subsidiary of Community Bancorp of Houston, Texas.  Superior Bank, N.A. will assume all deposits and purchase all assets of […]