Bank Failure
First Alliance Bank and Trust Co
BankRegReports is independent of First Alliance Bank and Trust Co and never asks for online banking logins or passwords.
Closed February 2, 2001 · Manchester, NH · FDIC Cert #34264.
- Closing date
- February 2, 2001
- Headquarters
- Manchester, NH
- FDIC Certificate
- 34264
- Total assets at closing
- $17.4M
- Total deposits at closing
- $16.9M
- Estimated loss to the insurance fund
- $817K
- Insurance fund
- Bank Insurance Fund (BIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Southern New Hampshire Bank
Context
On February 2, 2001, regulators closed First Alliance Bank and Trust Co, headquartered in Manchester, NH. At closing, the institution held approximately $17.4M in assets and $16.9M in deposits. The FDIC record names Southern New Hampshire Bank as the acquiring institution in the resolution. The estimated cost to the Bank Insurance Fund (BIF) was approximately $817K.
By assets at closing this is the 2442nd largest of the 3,526 bank failures in the FDIC record, and the 3rd of 4 in 2001. It falls in the period the record labels Consolidation Calm (1996-2007), a period with 50 failures peaking at 11 in 2002.
Riegle-Neal interstate-banking era. Industry consolidated rapidly via merger; failure counts dropped to single digits per year.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did First Alliance Bank and Trust Co fail?
First Alliance Bank and Trust Co was closed by regulators on February 2, 2001.
Who acquired First Alliance Bank and Trust Co?
The FDIC record names Southern New Hampshire Bank as the acquiring institution in the resolution of First Alliance Bank and Trust Co.
How big was First Alliance Bank and Trust Co when it failed?
First Alliance Bank and Trust Co had approximately $17.4M in total assets and $16.9M in deposits at the time of failure.
Other failures in 2001
| Date | Bank | Assets |
|---|---|---|
| Sep 7, 2001 | Sinclair National Bank | $29.8M |
| Jul 27, 2001 | Superior Bank, FSB | $1.77B |
| May 3, 2001 | Malta National Bank | $9.1M |
Explore: all failures · NH bank events · 2001 events · events hub