Bank Failure
ALLIED BANK
Closed September 23, 2016 · MULBERRY, AR · FDIC Cert #91.
- Closing date
- September 23, 2016
- Headquarters
- MULBERRY, AR
- FDIC Certificate
- 91
- Total assets at closing
- $66,336,000
- Total deposits at closing
- $64,713,000
- Estimated loss to DIF
- $6,213,000
- Resolution type
- other
- Acquirer
- TODAY'S BANK (FDIC Cert #10522)
Context
On September 23, 2016, regulators closed ALLIED BANK, headquartered in MULBERRY, AR. At closing, the institution held approximately $66,336,000 in assets and $64,713,000 in deposits. The FDIC arranged a resolution under which TODAY'S BANK acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $6,213,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 2016
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 2016-08-19 | THE WOODBURY BANKING COMPANY | WOODBURY, GA | $21,426,000 |
| 2016-05-06 | FIRST CORNERSTONE BANK | KING OF PRUSSIA, PA | $103,307,000 |
| 2016-04-29 | TRUST COMPANY BANK | MEMPHIS, TN | $18,998,000 |
| 2016-03-11 | NORTH MILWAUKEE STATE BANK | MILWAUKEE, WI | $67,115,000 |
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