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 […]
Superior Bank of Alabama Becomes First Billion Dollar Bank Failure of 2011
April 15, 2011 By Leave a Comment
Nexity Bank, Birmingham, Alabama, Closed By Regulators
April 15, 2011 By 1 Comment
Shareholders of Nexity Financial Corp, the holding company for Nexity Bank, saw all hope for a recovery in their investment evaporate today as regulators closed Nexity Bank. Nexity Bank was closed by the State of Alabama Banking Department which appointed the FDIC as receiver. To protect depositors, the FDIC sold Nexity Bank to Alostar Bank […]
New Horizons Bank of East Ellijay, GA, Fails and Sold To Bank With Unpaid TARP Loan
April 15, 2011 By Leave a Comment
New Horizons Bank, East Ellijay, Georgia, was closed today by the Georgia Department of Banking and Finance which named the FDIC as receiver. The FDIC entered into a purchase and assumption agreement with Citizens South Bank, Gastonia, North Carolina, to assume all deposits and purchase all assets of failed New Horizons. New Horizons was a […]
Nevada Commerce Bank, Las Vegas, NV, Closed By Regulators
April 9, 2011 By Leave a Comment
Nevada Commerce Bank, Las Vegas, Nevada, overwhelmed by loan defaults, was closed today by the Nevada Financial Institutions Division, which appointed the FDIC as receiver. The FDIC sold the failed bank to City National Bank, Los Angeles, CA, which will assume all deposits of the failed bank. The two branches of Nevada Commerce will reopen […]
The Bank of Commerce, Wood Dale, IL, Becomes 26th Banking Failure of 2011
March 25, 2011 By Leave a Comment
The Bank of Commerce, Wood Dale, Illinois was closed today by the Illinois Department of Financial & Professional Regulation, which appointed the FDIC as receiver. The FDIC sold the failed bank to Advantage National Bank Group, Elk Grove Village, Illinois, which will assume all deposits and purchase all assets of The Bank of Commerce. The […]
Valley Community Bank of Illinois Closed By Regulators
February 25, 2011 By Leave a Comment
Valley Community Bank, St. Charles, Illinois, joined the failed bank list today as the Illinois Department of Financial and Professional Regulation swooped in to close the bank. The FDIC was appointed as receiver to protect depositors and sold the failed bank to First State Bank, Mendota, Illinois, which will assume all deposits of Valley Community. […]
Charter Oak Bank of California Becomes Nation’s 21st Banking Failure
February 19, 2011 By Leave a Comment
California saw its third banking failure this year as regulators closed a small bank that had been overwhelmed by loan losses. Charter Oak Bank of Napa, California, was closed today by the California Department of Financial Institutions, which appointed the FDIC as receiver. The FDIC sold the failed bank to Bank of Marin, Novato, California, […]
San Luis Trust Bank of California Fails And Sold To Bank With Unpaid TARP Loan
February 18, 2011 By Leave a Comment
San Luis Trust Bank, FSB, San Luis Obispo, California, was closed today by the Office of Thrift Supervision which appointed the FDIC as receiver. The FDIC sold the failed bank to First California Bank, Westlake Village, California. First California will assume all deposits of the failed bank. San Luis Trust was beset by a high […]
Citizens Bank of Effingham Becomes Sixth Banking Failure In Georgia
February 18, 2011 By 1 Comment
Georgia may be one of the Nation’s smaller states, but it has the dubious distinction of being number one in banking failures this year. The failure of Citizens Bank of Effingham, Springfield, Georgia, today marks the sixth banking failure in Georgia this year. With four more banking failures today, the total number of failed banks […]
Failed Community First Bank of Chicago Sold To Wintrust Corp
February 4, 2011 By Leave a Comment
February 4, 2011 – Community First Bank, Chicago, Illinois, was closed today by the Department of Financial and Professional Regulation, which appointed the FDIC as receiver. The FDIC sold the failed bank to Northbrook Bank and Trust Company, Northbrook, Illinois, which will assume all deposits of Community First. Community First was a small one branch […]