Bank Failure
Bank of Alamo
BankRegReports is independent of Bank of Alamo and never asks for online banking logins or passwords.
Closed November 8, 2002 · Alamo, TN · FDIC Cert #9961.
- Closing date
- November 8, 2002
- Headquarters
- Alamo, TN
- FDIC Certificate
- 9961
- Total assets at closing
- $58.5M
- Total deposits at closing
- $52.2M
- Estimated loss to the insurance fund
- $9.3M
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
Context
On November 8, 2002, regulators closed Bank of Alamo, headquartered in Alamo, TN. At closing, the institution held approximately $58.5M in assets and $52.2M in deposits. The FDIC record does not name an acquiring institution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $9.3M.
By assets at closing this is the 1543rd largest of the 3,526 bank failures in the FDIC record, and the 6th of 11 in 2002. It falls in the period the record labels Consolidation Calm (1996-2007), a period with 50 failures peaking at 11 in 2002.
Riegle-Neal interstate-banking era. Industry consolidated rapidly via merger; failure counts dropped to single digits per year.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Bank of Alamo fail?
Bank of Alamo was closed by regulators on November 8, 2002.
How big was Bank of Alamo when it failed?
Bank of Alamo had approximately $58.5M in total assets and $52.2M in deposits at the time of failure.
Other failures in 2002
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2002 | The Farmers Bank & Trust of Cheneyville | $35.3M |
| Sep 30, 2002 | Amtrade International Bank of Georgia | $92.1M |
| Jun 27, 2002 | Universal FSB | $51.6M |
| Jun 26, 2002 | Connecticut Bank of Commerce | $384.2M |
| Mar 28, 2002 | New Century Bank | $21.1M |
| Mar 1, 2002 | Net First National Bank | $37.2M |
| Feb 7, 2002 | Nextbank | $700.2M |
| Feb 1, 2002 | Oakwood Deposit Bank | $72.3M |
Explore: all failures · TN bank events · 2002 events · events hub