Bank Failure
First Augusta Bank & Trust Company
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Closed May 20, 1977 · Augusta, GA · FDIC Cert #19871.
- Closing date
- May 20, 1977
- Headquarters
- Augusta, GA
- FDIC Certificate
- 19871
- Total assets at closing
- $24.2M
- Total deposits at closing
- $20.0M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this failure)
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
Context
On May 20, 1977, regulators closed First Augusta Bank & Trust Company, headquartered in Augusta, GA. At closing, the institution held approximately $24.2M in assets and $20.0M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 2197th largest of the 3,526 bank failures in the FDIC record, and the 1st of 5 in 1977. It falls in the period the record labels Postwar Stability (1945-1979), a period with 161 failures peaking at 16 in 1976.
Three decades of regulated calm — Reg Q ceilings, geographic branching limits, and high industry profits kept failures rare.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did First Augusta Bank & Trust Company fail?
First Augusta Bank & Trust Company was closed by regulators on May 20, 1977.
How big was First Augusta Bank & Trust Company when it failed?
First Augusta Bank & Trust Company had approximately $24.2M in total assets and $20.0M in deposits at the time of failure.
Other failures in 1977
| Date | Bank | Assets |
|---|---|---|
| Aug 26, 1977 | Donahue Savings Bank | $5.5M |
| Jul 29, 1977 | Republic National Bank of Louisiana | $6.3M |
| Mar 28, 1977 | The Monroe Bank and Trust Company | $4.3M |
| Mar 10, 1977 | First State Bank | $2.0M |
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