Bank Failure
Eastside Commercial Bank
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Closed July 18, 2014 · Conyers, GA · FDIC Cert #58125.
- Closing date
- July 18, 2014
- Headquarters
- Conyers, GA
- FDIC Certificate
- 58125
- Total assets at closing
- $173.9M
- Total deposits at closing
- $166.9M
- Estimated loss to the insurance fund
- $38.3M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Community & Southern Bank
Context
On July 18, 2014, regulators closed Eastside Commercial Bank, headquartered in Conyers, GA. At closing, the institution held approximately $173.9M in assets and $166.9M in deposits. The FDIC record names Community & Southern Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $38.3M.
By assets at closing this is the 849th largest of the 3,526 bank failures in the FDIC record, and the 4th of 18 in 2014. It falls in the period the record labels Post-Dodd-Frank Calm (2014-2022), a period with 47 failures peaking at 18 in 2014.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Eastside Commercial Bank fail?
Eastside Commercial Bank was closed by regulators on July 18, 2014.
Who acquired Eastside Commercial Bank?
The FDIC record names Community & Southern Bank as the acquiring institution in the resolution of Eastside Commercial Bank.
How big was Eastside Commercial Bank when it failed?
Eastside Commercial Bank had approximately $173.9M in total assets and $166.9M in deposits at the time of failure.
Other failures in 2014
| Date | Bank | Assets |
|---|---|---|
| Dec 19, 2014 | Northern Star Bank | $18.8M |
| Nov 7, 2014 | Frontier Bank, FSB | $80.7M |
| Oct 24, 2014 | The National Republic Bank of Chicago | $843.1M |
| Oct 17, 2014 | NBRS Financial Bank | $155.4M |
| Jul 25, 2014 | Greenchoice Bank, FSB | $70.3M |
| Jun 27, 2014 | The Freedom State Bank | $22.8M |
| Jun 20, 2014 | Valley Bank | $456.4M |
| Jun 20, 2014 | Valley Bank | $81.8M |
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