Bank Failure
First National Bank
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Closed June 25, 2010 · Savannah, GA · FDIC Cert #34152.
- Closing date
- June 25, 2010
- Headquarters
- Savannah, GA
- FDIC Certificate
- 34152
- Total assets at closing
- $252.5M
- Total deposits at closing
- $231.9M
- Estimated loss to the insurance fund
- $78.2M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- The Savannah Bank, N.A.
Context
On June 25, 2010, regulators closed First National Bank, headquartered in Savannah, GA. At closing, the institution held approximately $252.5M in assets and $231.9M in deposits. The FDIC record names The Savannah Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $78.2M.
By assets at closing this is the 639th largest of the 3,526 bank failures in the FDIC record, and the 77th 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 National Bank fail?
First National Bank was closed by regulators on June 25, 2010.
Who acquired First National Bank?
The FDIC record names The Savannah Bank, N.A. as the acquiring institution in the resolution of First National Bank.
How big was First National Bank when it failed?
First National Bank had approximately $252.5M in total assets and $231.9M 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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