Bank Failure
Alpha Bank & Trust
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Closed October 24, 2008 · Alpharetta, GA · FDIC Cert #58241.
- Closing date
- October 24, 2008
- Headquarters
- Alpharetta, GA
- FDIC Certificate
- 58241
- Total assets at closing
- $354.1M
- Total deposits at closing
- $344.2M
- Estimated loss to the insurance fund
- $211.3M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Stearns Bank, N.A.
Context
On October 24, 2008, regulators closed Alpha Bank & Trust, headquartered in Alpharetta, GA. At closing, the institution held approximately $354.1M in assets and $344.2M in deposits. The FDIC record names Stearns Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $211.3M.
By assets at closing this is the 494th largest of the 3,526 bank failures in the FDIC record, and the 14th of 25 in 2008. It falls in the period the record labels Global Financial Crisis (2008-2013), a period with 489 failures peaking at 157 in 2010.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Alpha Bank & Trust fail?
Alpha Bank & Trust was closed by regulators on October 24, 2008.
Who acquired Alpha Bank & Trust?
The FDIC record names Stearns Bank, N.A. as the acquiring institution in the resolution of Alpha Bank & Trust.
How big was Alpha Bank & Trust when it failed?
Alpha Bank & Trust had approximately $354.1M in total assets and $344.2M in deposits at the time of failure.
Other failures in 2008
| Date | Bank | Assets |
|---|---|---|
| Dec 12, 2008 | Haven Trust Bank | $559.6M |
| Dec 12, 2008 | Sanderson State Bank | $38.2M |
| Dec 5, 2008 | First Georgia Community Bank | $256.4M |
| Nov 21, 2008 | Downey Savings and Loan Association, F.A. | $12.78B |
| Nov 21, 2008 | PFF Bank & Trust | $3.72B |
| Nov 21, 2008 | The Community Bank | $634.9M |
| Nov 7, 2008 | Franklin Bank, SSB | $5.09B |
| Nov 7, 2008 | Security Pacific Bank | $528.0M |
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