Bank Failure
Appalachian Community Bank
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Closed March 19, 2010 · Ellijay, GA · FDIC Cert #33989.
- Closing date
- March 19, 2010
- Headquarters
- Ellijay, GA
- FDIC Certificate
- 33989
- Total assets at closing
- $1.01B
- Total deposits at closing
- $917.6M
- Estimated loss to the insurance fund
- $456.5M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Community & Southern Bank
Context
On March 19, 2010, regulators closed Appalachian Community Bank, headquartered in Ellijay, GA. At closing, the institution held approximately $1.01B in assets and $917.6M in deposits. The FDIC record names Community & Southern Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $456.5M.
By assets at closing this is the 210th largest of the 3,526 bank failures in the FDIC record, and the 19th of 157 in 2010. 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 Appalachian Community Bank fail?
Appalachian Community Bank was closed by regulators on March 19, 2010.
Who acquired Appalachian Community Bank?
The FDIC record names Community & Southern Bank as the acquiring institution in the resolution of Appalachian Community Bank.
How big was Appalachian Community Bank when it failed?
Appalachian Community Bank had approximately $1.01B in total assets and $917.6M in deposits at the time of failure.
Other failures in 2010
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2010 | The Bank of Miami | $448.1M |
| Dec 17, 2010 | Chestatee State Bank | $244.4M |
| Dec 17, 2010 | United Americas Bank | $242.3M |
| Dec 17, 2010 | First Southern Bank | $191.8M |
| Dec 17, 2010 | Appalacian Community Bank, F.S.B. | $68.2M |
| Dec 17, 2010 | Community National Bank | $31.6M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Dec 10, 2010 | Earthstar Bank | $112.6M |
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