State regulators closed Community Capital Bank of Jonesboro, GA, today and appointed the FDIC as receiver. The FDIC sold the failed bank to State Bank and Trust Company, Macon, GA, which will assume all deposits and purchase all assets of Community Capital Bank. Community Capital Bank began operations in August 2002. The Bank was owned […]
Decatur First Bank of Georgia Becomes 21st Banking Failure In Georgia
October 21, 2011 By Leave a Comment
Decatur First Bank, Decatur, Georgia, became the 21st bank to fail in Georgia this year. Georgia leads the nation in banking failures, accounting for 26% of all failed banks during 2011. A second Georgia bank, Community Capital Bank of Jonesboro, was also closed by regulators today. Georgia accounts for 22 of the nation’s 84 banking […]
Old Harbor Bank, Clearwater, FL, Closed By Regulators
October 21, 2011 By Leave a Comment
Old Harbor Bank of Clearwater, Florida, an eight year old community bank, was closed today by the Florida Office of Financial Regulation. The FDIC, appointed as receiver, sold the failed bank to 1st United Bank, Boca Raton, Florida. All seven branches of Old Harbor Bank will reopen on Saturday as branches of 1st United. Depositors […]
Country Bank, Aledo, IL, Becomes 8th Illinois Banking Failure
October 14, 2011 By Leave a Comment
An Illinois bank that still owed $4 million to the U.S. Treasury under the TARP program was closed today in Illinois. Country Bank, Aledo, IL, was closed by state regulators who appointed the FDIC as receiver. The failed bank was sold by the FDIC to Blackhawk Bank & Trust, Milan, IL, which will assume all […]
Blue Ridge Savings Bank, Asheville, NC, Closed By Regulators
October 14, 2011 By Leave a Comment
Blue Ridge Savings Bank, founded in 1978, was closed today by the North Carolina Office of Commissioner of Banks, which appointed the FDIC as receiver. The FDIC sold the failed bank to Bank of North Carolina, Thomasville, NC, which will assume all deposits of Blue Ridge Savings. All ten branches of Blue Ridge will reopen […]
Piedmont Community Bank of Georgia Fails, Taken Over By State Bank and Trust Co
October 14, 2011 By Leave a Comment
Georgia, the state with the most banking failures for 2011, saw another banking failure today with the closing of Piedmont Community Bank. The failure of Piedmont becomes the 20th banking failure of the year in Georgia, which now accounts for 26% of all bank failures in 2011. The Georgia Department of Banking, which closed Piedmont […]
Sun Security Bank, Ellington, MO, Closed By Regulators
October 7, 2011 By Leave a Comment
Sun Security Bank, Ellington, Missouri, was closed today by state regulators and the FDIC was appointed as receiver. The failed bank, which had 27 branches across Southern Missouri, became the State’s first banking failure of 2011. The last banking failure in Missouri occurred on October 15, 2010. The FDIC sold Sun Security to Great Southern […]
The RiverBank, Wyoming, Minnesota, Fails After 114 Years
October 7, 2011 By Leave a Comment
The River Bank, Wyoming, Minnesota, was closed today by the Minnesota Department of Commerce. The FDIC was appointed as receiver and sold the failed bank to Central Bank, Stillwater, MN. All deposits of The River Bank will be assumed by Central Bank. The River Bank was originally founded as The Bank of Osceola by businessman […]
First International Bank, Plano, Texas, Closed By Regulators
September 30, 2011 By 1 Comment
The first bank failure in the state of Texas occurred today when the Texas Department of Banking closed First International Bank, Plano, Texas. The FDIC, appointed as receiver for the failed bank, sold First International to American First National Bank of Houston, Texas. Ironically, First International Bank’s origins were based on a failed bank. First […]
Citizens Bank of Northern California Closed By Regulators
September 23, 2011 By Leave a Comment
Citizens Bank of Northern California, Nevada City, CA, founded in 1995, was closed today by the California Department of Financial Institutions. The FDIC, acting as receiver, sold the failed bank to Tri Counties Bank, Chico, CA. Citizens Bank had seven branches which will reopen on Monday as branches of Tri Counties Bank. Depositors of failed […]