Bank Failure
Community South Bank
BankRegReports is independent of Community South Bank and never asks for online banking logins or passwords.
Closed August 23, 2013 · Parsons, TN · FDIC Cert #19849.
- Closing date
- August 23, 2013
- Headquarters
- Parsons, TN
- FDIC Certificate
- 19849
- Total assets at closing
- $386.9M
- Total deposits at closing
- $377.7M
- Estimated loss to the insurance fund
- $129.7M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- CB&S Bank, Inc.
Context
On August 23, 2013, regulators closed Community South Bank, headquartered in Parsons, TN. At closing, the institution held approximately $386.9M in assets and $377.7M in deposits. The FDIC record names CB&S Bank, Inc. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $129.7M.
By assets at closing this is the 464th largest of the 3,526 bank failures in the FDIC record, and the 3rd of 24 in 2013. 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 South Bank fail?
Community South Bank was closed by regulators on August 23, 2013.
Who acquired Community South Bank?
The FDIC record names CB&S Bank, Inc. as the acquiring institution in the resolution of Community South Bank.
How big was Community South Bank when it failed?
Community South Bank had approximately $386.9M in total assets and $377.7M in deposits at the time of failure.
Other failures in 2013
| Date | Bank | Assets |
|---|---|---|
| Dec 13, 2013 | Texas Community Bank, N.A. | $159.3M |
| Oct 30, 2013 | Bank of Jackson County | $24.7M |
| Sep 13, 2013 | First National Bank | $3.09B |
| Sep 13, 2013 | The Community's Bank | $26.4M |
| Aug 23, 2013 | Sunrise Bank of Arizona | $202.2M |
| Aug 9, 2013 | Bank of Wausau | $43.6M |
| Aug 2, 2013 | First Community Bank of Southwest Florida | $247.3M |
| Jun 7, 2013 | Mountain National Bank | $437.3M |
Explore: all failures · TN bank events · 2013 events · events hub