Bank Failure
Atlantic Southern Bank
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Closed May 20, 2011 · Macon, GA · FDIC Cert #57213.
- Closing date
- May 20, 2011
- Headquarters
- Macon, GA
- FDIC Certificate
- 57213
- Total assets at closing
- $741.9M
- Total deposits at closing
- $707.6M
- Estimated loss to the insurance fund
- $281.0M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Certus Bank, N.A.
Context
On May 20, 2011, regulators closed Atlantic Southern Bank, headquartered in Macon, GA. At closing, the institution held approximately $741.9M in assets and $707.6M in deposits. The FDIC record names Certus Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $281.0M.
By assets at closing this is the 279th largest of the 3,526 bank failures in the FDIC record, and the 13th 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 Southern Bank fail?
Atlantic Southern Bank was closed by regulators on May 20, 2011.
Who acquired Atlantic Southern Bank?
The FDIC record names Certus Bank, N.A. as the acquiring institution in the resolution of Atlantic Southern Bank.
How big was Atlantic Southern Bank when it failed?
Atlantic Southern Bank had approximately $741.9M in total assets and $707.6M 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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