Bank Failure
Atlantic Bank and Trust
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Closed June 3, 2011 · Charleston, SC · FDIC Cert #58420.
- Closing date
- June 3, 2011
- Headquarters
- Charleston, SC
- FDIC Certificate
- 58420
- Total assets at closing
- $208.2M
- Total deposits at closing
- $191.6M
- Estimated loss to the insurance fund
- $31.2M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Citizens Bank and Trust Company, Inc.
Context
On June 3, 2011, regulators closed Atlantic Bank and Trust, headquartered in Charleston, SC. At closing, the institution held approximately $208.2M in assets and $191.6M in deposits. The FDIC record names First Citizens Bank and Trust Company, Inc. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $31.2M.
By assets at closing this is the 757th largest of the 3,526 bank failures in the FDIC record, and the 44th of 92 in 2011. 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 Atlantic Bank and Trust fail?
Atlantic Bank and Trust was closed by regulators on June 3, 2011.
Who acquired Atlantic Bank and Trust?
The FDIC record names First Citizens Bank and Trust Company, Inc. as the acquiring institution in the resolution of Atlantic Bank and Trust.
How big was Atlantic Bank and Trust when it failed?
Atlantic Bank and Trust had approximately $208.2M in total assets and $191.6M in deposits at the time of failure.
Other failures in 2011
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 2011 | Western National Bank | $162.9M |
| Dec 16, 2011 | Premier Community Bank of the Emerald Coast | $126.0M |
| Nov 18, 2011 | Central Progressive Bank | $383.1M |
| Nov 18, 2011 | Polk County Bank | $91.6M |
| Nov 10, 2011 | Community Bank of Rockmart | $62.4M |
| Nov 4, 2011 | Sunfirst Bank | $198.1M |
| Nov 4, 2011 | Mid City Bank, Inc. | $106.1M |
| Oct 28, 2011 | All American Bank | $34.8M |
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