Bank Failure
Bank of Hackleburg
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Closed December 13, 1983 · Hackleburg, AL · FDIC Cert #1731.
- Closing date
- December 13, 1983
- Headquarters
- Hackleburg, AL
- FDIC Certificate
- 1731
- Total assets at closing
- $6.5M
- Total deposits at closing
- $6.4M
- Estimated loss to the insurance fund
- $1.8M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Southtrust BK of Marion
Context
On December 13, 1983, regulators closed Bank of Hackleburg, headquartered in Hackleburg, AL. At closing, the institution held approximately $6.5M in assets and $6.4M in deposits. The FDIC record names Southtrust BK of Marion as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $1.8M.
By assets at closing this is the 2929th largest of the 3,526 bank failures in the FDIC record, and the 49th of 50 in 1983. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Bank of Hackleburg fail?
Bank of Hackleburg was closed by regulators on December 13, 1983.
Who acquired Bank of Hackleburg?
The FDIC record names Southtrust BK of Marion as the acquiring institution in the resolution of Bank of Hackleburg.
How big was Bank of Hackleburg when it failed?
Bank of Hackleburg had approximately $6.5M in total assets and $6.4M in deposits at the time of failure.
Other failures in 1983
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1983 | The Bank of Red Oak | $11.1M |
| Dec 9, 1983 | Union Trust Company | $30.6M |
| Dec 2, 1983 | Metro FS&LA | $27.4M |
| Nov 25, 1983 | Atkinson Trust & Savings Bank | $21.1M |
| Nov 11, 1983 | First Nat BK of Browning | $13.7M |
| Nov 3, 1983 | State of Clovis, Sa | $30.9M |
| Oct 28, 1983 | Cleveland Community Savings Co. | $21.0M |
| Oct 14, 1983 | The First Nat BK of Midland | $1.41B |
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