Mountain Heritage Bank, Clayton, Georgia, was closed today by the Georgia Department of Banking and Finance. The FDIC was appointed as receiver and sold the small two branch community bank to First American Bank and Trust Company, Athens, Georgia. First American will assume all of the failed bank’s deposits and, in addition, purchase essentially all […]
First Commercial Bank of Tampa Bay 47th Banking Failure
June 17, 2011 By Leave a Comment
First Commercial Bank of Tampa Bay, Tampa, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the FDIC as receiver. The FDIC sold the failed bank to Stonegate Bank, Fort Lauderdale, Florida, which will assume all deposits and purchase all assets. First Commercial Bank was a small, two branch, locally owned […]
McIntosh State Bank of Georgia Closed By Regulators
June 17, 2011 By Leave a Comment
McIntosh State Bank, Jackson, Georgia, established in 1964 as a community oriented, full service commercial bank, was closed today by the Georgia Department of Banking and Finance, which appointed the FDIC as receiver. The FDIC sold the failed bank to Hamilton State Bank, Hoschton, Georgia. Hamilton State Bank will assume all deposits and purchase all […]
Atlantic Bank and Trust, Charleston, SC, Becomes 45th Banking Failure
June 3, 2011 By Leave a Comment
The Atlantic Bank and Trust of Charleston, South Carolina, was closed today by the Office of Thrift Supervision, which appointed the FDIC as receiver. The FDIC sold the failed Bank to First Citizens Bank and Trust Company, Columbia, South Carolina, which will assume all deposits and purchase all assets of Atlantic Bank and Trust. Atlantic […]
Heritage Bank of Washington Becomes 44th Banking Failure
May 27, 2011 By Leave a Comment
First Heritage Bank of Snohomish, Washington, became the nation’s 44 banking failure of 2011. The Bank was closed by the Washington State Department of Financial Institutions which appointed the FDIC as receiver. The FDIC sold failed Heritage to Columbia State Bank of Tacoma, Washington, which will assume all deposits and purchase most of the assets […]
Summit Bank, Burlington, Washington – Banking Failure #43
May 21, 2011 By Leave a Comment
Summit Bank, Burlington, WA, was closed today by the Washington State Department of Financial Institutions. The FDIC, appointed as receiver, sold the failed bank to Columbia State Bank, which will assume all deposits and acquire substantially all of the assets of the failed bank. Summit Bank had total assets of $142.7 million and total deposits […]
Failed Coastal Bank of Florida Sold To Premier American Bank
May 7, 2011 By Leave a Comment
Coastal Bank of Cocoa Beach, Florida, was closed today by the Office of Thrift Supervision. The FDIC, acting as receiver, sold the failed bank to Premier American Bank, N.A., Miami, Florida, which will assume all deposits of failed Coastal Bank. Coastal Bank had only two branches, both of which will reopen on Monday as branches […]
Community Central Bank, Mount Clemens, Michigan, Becomes 39th Banking Failure
April 30, 2011 By Leave a Comment
The nation’s 39th banking failure of 2011 occurred in Michigan when regulators closed the Community Central Bank of Michigan. According to the FDIC news release, the failed bank will be sold to Talmer Bank & Trust, Troy, Michigan. Community Central Bank, Mount Clemens, Michigan, was closed today by the Michigan Office of Financial and Insurance […]
The Park Avenue Bank of Georgia Closed By Regulators
April 30, 2011 By Leave a Comment
Banking failure hit the State of Georgia today with the failure of The Park Avenue Bank of Valdosta, Georgia. According to the FDIC, the failed bank will be sold to Bank of the Ozarks which has previously purchased five other failed banks. Bank of the Ozarks, Little Rock, Arkansas, acquired the banking operations, including all […]
Cortez Community Bank, Brooksville, Florida, Closed By Regulators
April 30, 2011 By Leave a Comment
Cortez Community Bank, Florida, became the nation’s 35th banking failure of 2011. According to the FDIC, the failed bank will be acquired by Premier American Bank, which has previously acquired other failed banks. Premier American Bank, National Association, Miami, Florida, acquired the banking operations, including all the deposits, of two Florida-based banks. To protect depositors, […]