Tennessee Commerce Bank, Franklin, TN, with $1.2 billion dollars in assets, was closed today by state regulators. The failure of Tennessee Commerce is the largest banking failure of the new year and comes in a state that is a stranger to bank failures. Prior to today, the last banking failure in Tennessee was on November […]
Tennessee Commerce Bank Fails – First Billion Dollar Bank Failure Of 2012
January 27, 2012 By 1 Comment
First Guaranty Bank and Trust Co of Jacksonville, FL, Closed By Regulators
January 27, 2012 By Leave a Comment
First Guaranty Bank and Trust Company of Jacksonville, Florida, the oldest bank in Jacksonville, was closed today by state regulators. The FDIC, named as receiver, sold the failed bank to CenterState Bank of Florida, N.A. First Guaranty Band and Trust was a family owned bank with a 62 year history. Inexplicably, according to the Bank’s […]
American Eagle Savings Bank, Boothwyn, PA, Closed By Regulators
January 20, 2012 By Leave a Comment
With any type of luck, American Eagle Savings Bank of Boothwyn, PA, could have gone unnoticed by regulators. American Eagle was a speck of a bank with only $19.6 million in total assets, despite the fact that it was one of the oldest banks in the country, having been established in 1917. The smallest bank […]
The First State Bank, Stockbridge, GA, Closed By Regulators
January 20, 2012 By Leave a Comment
During 2011, Georgia had the largest number of banking failures in the United States, with 23 failed banks that accounted for 25% of all banking failures. As regulators closed the first failed banks of the new year, Georgia was once again on the list of failed banks with the closing of a large community bank. […]
Central Florida State Bank, FL, Becomes First Banking Failure Of 2012
January 20, 2012 By Leave a Comment
The first banking failure of 2012 occurred in Florida as regulators closed Central Florida State Bank, Belleview, Florida. During 2011, Florida had 13 banking failures, second only to Georgia which witnessed the closing of 23 banks. Combined, Florida and Georgia accounted for 39% of the 92 bank failures that occurred during 2011. State regulators […]
Western National Bank of Phoenix, AZ, Closed By Regulators
December 16, 2011 By Leave a Comment
Western National Bank, Phoenix, AZ, was closed today by the Comptroller of the Currency and the FDIC was appointed as receiver. The FDIC entered into a purchase and assumption agreement with Washington-Federal , Seattle, Washington, to assume all deposits of failed Western National Bank. Western National had three branches, all of which will reopen on […]
Premier Community Bank of the Emerald Coast Closed By Regulators
December 16, 2011 By Leave a Comment
The Premier Community Bank of the Emerald Coast, Crestview, Florida, was closed today by state regulators and the FDIC was named as receiver. The FDIC sold the failed bank to Summit Bank, N.A., Panama City. All deposits of failed Premier Community Bank were assumed by Summit Bank and depositors will have immediate access to their […]
Central Progressive Bank, Louisiana, Closed By Regulators
November 18, 2011 By Leave a Comment
Central Progressive Bank, Lacombe, Louisiana, was closed today by state regulators who appointed the FDIC as receiver. The FDIC sold the failed bank to First NBC Bank, New Orleans, LA, which will assume all deposits of Central Progressive. Central Progressive Bank was founded in 1967 to serve the banking needs of the Northshore communities of […]
Polk County Bank, Iowa, Closed By Regulators
November 18, 2011 By Leave a Comment
Polk County Bank, Johnston, Iowa, was closed today by state regulators who appointed the FDIC as receiver. All deposits of failed Polk County Bank were assumed by Grinnell State Bank of Grinnell, Iowa, under a purchase and assumption agreement with the FDIC. Polk County Bank has a long history, having opened for business in 1903. The […]
Community Bank of Rockmart, GA, Closed By Regulators
November 10, 2011 By Leave a Comment
Community Bank of Rockmart, Rockmart, Georgia, was closed today by state regulators who appointed the FDIC as receiver. Century Bank of Georgia, Cartersville, GA, entered into a purchase and assumption agreement with the FDIC under which it will assume all deposits of failed Community Bank of Rockmart. Since banks are closed on Friday in observance […]