Bank Failure
Community Bank & Trust
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Closed January 29, 2010 · Cornelia, GA · FDIC Cert #5702.
- Closing date
- January 29, 2010
- Headquarters
- Cornelia, GA
- FDIC Certificate
- 5702
- Total assets at closing
- $1.18B
- Total deposits at closing
- $1.07B
- Estimated loss to the insurance fund
- $477.2M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- SCBT, N.A.
Context
On January 29, 2010, regulators closed Community Bank & Trust, headquartered in Cornelia, GA. At closing, the institution held approximately $1.18B in assets and $1.07B in deposits. The FDIC record names SCBT, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $477.2M.
By assets at closing this is the 185th largest of the 3,526 bank failures in the FDIC record, and the 17th of 157 in 2010. 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 Community Bank & Trust fail?
Community Bank & Trust was closed by regulators on January 29, 2010.
Who acquired Community Bank & Trust?
The FDIC record names SCBT, N.A. as the acquiring institution in the resolution of Community Bank & Trust.
How big was Community Bank & Trust when it failed?
Community Bank & Trust had approximately $1.18B in total assets and $1.07B in deposits at the time of failure.
Other failures in 2010
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2010 | The Bank of Miami | $448.1M |
| Dec 17, 2010 | Chestatee State Bank | $244.4M |
| Dec 17, 2010 | United Americas Bank | $242.3M |
| Dec 17, 2010 | First Southern Bank | $191.8M |
| Dec 17, 2010 | Appalacian Community Bank, F.S.B. | $68.2M |
| Dec 17, 2010 | Community National Bank | $31.6M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Dec 10, 2010 | Earthstar Bank | $112.6M |
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