Bank Failure
First National Bank
Closed June 4, 2010 · Rosedale, MS · FDIC Cert #15814.
- Closing date
- June 4, 2010
- Headquarters
- Rosedale, MS
- FDIC Certificate
- 15814
- Total assets at closing
- $60.4M
- Total deposits at closing
- $63.5M
- Estimated loss to DIF
- $18.1M
- Resolution
- Failure (closed by regulators)
- Acquirer
- The Jefferson Bank
Context
On June 4, 2010, regulators closed First National Bank, headquartered in Rosedale, MS. At closing, the institution held approximately $60.4M in assets and $63.5M in deposits. The FDIC arranged a resolution under which The Jefferson Bank acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $18.1M.
By assets at closing this is the 1522nd largest of the 3,524 bank failures in the FDIC record, and the 139th 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 4, 2010.
Who acquired First National Bank?
The Jefferson Bank acquired the failed bank's deposits and operations on June 4, 2010 under an FDIC-brokered resolution.
How big was First National Bank when it failed?
First National Bank had approximately $60.4M in total assets and $63.5M 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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