Bank Failure
Crescent Bank and Trust Company
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Closed July 23, 2010 · Jasper, GA · FDIC Cert #27559.
- Closing date
- July 23, 2010
- Headquarters
- Jasper, GA
- FDIC Certificate
- 27559
- Total assets at closing
- $970.2M
- Total deposits at closing
- $932.8M
- Estimated loss to the insurance fund
- $303.7M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Renasant Bank
Context
On July 23, 2010, regulators closed Crescent Bank and Trust Company, headquartered in Jasper, GA. At closing, the institution held approximately $970.2M in assets and $932.8M in deposits. The FDIC record names Renasant Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $303.7M.
By assets at closing this is the 221st largest of the 3,526 bank failures in the FDIC record, and the 22nd 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 Crescent Bank and Trust Company fail?
Crescent Bank and Trust Company was closed by regulators on July 23, 2010.
Who acquired Crescent Bank and Trust Company?
The FDIC record names Renasant Bank as the acquiring institution in the resolution of Crescent Bank and Trust Company.
How big was Crescent Bank and Trust Company when it failed?
Crescent Bank and Trust Company had approximately $970.2M in total assets and $932.8M 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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