Bank Failure
First Lowndes Bank
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Closed March 19, 2010 · Fort Deposit, AL · FDIC Cert #24957.
- Closing date
- March 19, 2010
- Headquarters
- Fort Deposit, AL
- FDIC Certificate
- 24957
- Total assets at closing
- $137.2M
- Total deposits at closing
- $131.1M
- Estimated loss to the insurance fund
- $11.7M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Citizens Bank
Context
On March 19, 2010, regulators closed First Lowndes Bank, headquartered in Fort Deposit, AL. At closing, the institution held approximately $137.2M in assets and $131.1M in deposits. The FDIC record names First Citizens Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $11.7M.
By assets at closing this is the 1002nd largest of the 3,526 bank failures in the FDIC record, and the 107th 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 First Lowndes Bank fail?
First Lowndes Bank was closed by regulators on March 19, 2010.
Who acquired First Lowndes Bank?
The FDIC record names First Citizens Bank as the acquiring institution in the resolution of First Lowndes Bank.
How big was First Lowndes Bank when it failed?
First Lowndes Bank had approximately $137.2M in total assets and $131.1M 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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