Bank Failure
Blue Ridge Savings Bank, Inc.
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Closed October 14, 2011 · Asheville, NC · FDIC Cert #32347.
- Closing date
- October 14, 2011
- Headquarters
- Asheville, NC
- FDIC Certificate
- 32347
- Total assets at closing
- $161.4M
- Total deposits at closing
- $159.6M
- Estimated loss to the insurance fund
- $44.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Bank of North Carolina
Context
On October 14, 2011, regulators closed Blue Ridge Savings Bank, Inc., headquartered in Asheville, NC. At closing, the institution held approximately $161.4M in assets and $159.6M in deposits. The FDIC record names Bank of North Carolina as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $44.1M.
By assets at closing this is the 894th largest of the 3,526 bank failures in the FDIC record, and the 60th 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 Blue Ridge Savings Bank, Inc. fail?
Blue Ridge Savings Bank, Inc. was closed by regulators on October 14, 2011.
Who acquired Blue Ridge Savings Bank, Inc.?
The FDIC record names Bank of North Carolina as the acquiring institution in the resolution of Blue Ridge Savings Bank, Inc.
How big was Blue Ridge Savings Bank, Inc. when it failed?
Blue Ridge Savings Bank, Inc. had approximately $161.4M in total assets and $159.6M 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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