Bank Failure
COMMUNITYSOUTH BANK AND TRUST
Closed January 21, 2011 · EASLEY, SC · FDIC Cert #57868.
- Closing date
- January 21, 2011
- Headquarters
- EASLEY, SC
- FDIC Certificate
- 57868
- Total assets at closing
- $340,986,000
- Total deposits at closing
- $314,250,000
- Estimated loss to DIF
- $45,189,000
- Resolution type
- other
- Acquirer
- CERTUS BANK, NATIONAL ASSOCIATION (FDIC Cert #10328)
Context
On January 21, 2011, regulators closed COMMUNITYSOUTH BANK AND TRUST, headquartered in EASLEY, SC. At closing, the institution held approximately $340,986,000 in assets and $314,250,000 in deposits. The FDIC arranged a resolution under which CERTUS BANK, NATIONAL ASSOCIATION acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $45,189,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 2011
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 2011-12-16 | WESTERN NATIONAL BANK | PHOENIX, AZ | $162,872,000 |
| 2011-12-16 | PREMIER COMMUNITY BANK OF THE EMERALD COAST | CRESTVIEW, FL | $125,976,000 |
| 2011-11-18 | CENTRAL PROGRESSIVE BANK | LACOMBE, LA | $383,132,000 |
| 2011-11-18 | POLK COUNTY BANK | JOHNSTON, IA | $91,580,000 |
| 2011-11-10 | COMMUNITY BANK OF ROCKMART | ROCKMART, GA | $62,383,000 |
| 2011-11-04 | SUNFIRST BANK | SAINT GEORGE, UT | $198,081,000 |
| 2011-11-04 | MID CITY BANK, INC. | OMAHA, NE | $106,075,000 |
| 2011-10-28 | ALL AMERICAN BANK | DES PLAINES, IL | $34,800,000 |
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