Bank Failure
Cedar Bluff Bank
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Closed November 2, 1982 · Cedar Bluff, AL · FDIC Cert #9053.
- Closing date
- November 2, 1982
- Headquarters
- Cedar Bluff, AL
- FDIC Certificate
- 9053
- Total assets at closing
- $13.7M
- Total deposits at closing
- $12.7M
- Estimated loss to the insurance fund
- $1.5M
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
- Acquirer
- Union State Bank
Context
On November 2, 1982, regulators closed Cedar Bluff Bank, headquartered in Cedar Bluff, AL. At closing, the institution held approximately $13.7M in assets and $12.7M in deposits. The FDIC record names Union State Bank as the acquiring institution in the resolution. The estimated cost to the FDIC insurance fund was approximately $1.5M.
By assets at closing this is the 2599th largest of the 3,526 bank failures in the FDIC record, and the 22nd of 34 in 1982. 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 Cedar Bluff Bank fail?
Cedar Bluff Bank was closed by regulators on November 2, 1982.
Who acquired Cedar Bluff Bank?
The FDIC record names Union State Bank as the acquiring institution in the resolution of Cedar Bluff Bank.
How big was Cedar Bluff Bank when it failed?
Cedar Bluff Bank had approximately $13.7M in total assets and $12.7M in deposits at the time of failure.
Other failures in 1982
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 1982 | The Security State Bank | $11.6M |
| Dec 10, 1982 | Bollinger County Bank | $15.9M |
| Nov 19, 1982 | North Kansas Sa | $36.5M |
| Nov 19, 1982 | Ranchlander National Bank | $4.3M |
| Nov 12, 1982 | Bank of Quitman | $17.4M |
| Nov 5, 1982 | The First National Bank of South Charlesto | $28.6M |
| Nov 5, 1982 | Texas BK of Amarillo | $13.1M |
| Oct 8, 1982 | Tri-State Bank | $16.3M |
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