Bank Failure
First Piedmont Bank
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Closed July 17, 2009 · Winder, GA · FDIC Cert #34594.
- Closing date
- July 17, 2009
- Headquarters
- Winder, GA
- FDIC Certificate
- 34594
- Total assets at closing
- $114.1M
- Total deposits at closing
- $108.5M
- Estimated loss to the insurance fund
- $38.0M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First American Bank and Trust Company
Context
On July 17, 2009, regulators closed First Piedmont Bank, headquartered in Winder, GA. At closing, the institution held approximately $114.1M in assets and $108.5M in deposits. The FDIC record names First American Bank and Trust Company as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $38.0M.
By assets at closing this is the 1115th largest of the 3,526 bank failures in the FDIC record, and the 110th of 140 in 2009. 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 Piedmont Bank fail?
First Piedmont Bank was closed by regulators on July 17, 2009.
Who acquired First Piedmont Bank?
The FDIC record names First American Bank and Trust Company as the acquiring institution in the resolution of First Piedmont Bank.
How big was First Piedmont Bank when it failed?
First Piedmont Bank had approximately $114.1M in total assets and $108.5M in deposits at the time of failure.
Other failures in 2009
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 2009 | First Federal Bank of California, a Federal Savings Bank | $6.14B |
| Dec 18, 2009 | Imperial Capital Bank | $4.05B |
| Dec 18, 2009 | Peoples First Community Bank | $1.80B |
| Dec 18, 2009 | New South Federal Savings Bank | $1.46B |
| Dec 18, 2009 | Independent Bankers' Bank | $585.5M |
| Dec 18, 2009 | Rockbridge Commercial Bank | $294.0M |
| Dec 18, 2009 | Citizens State Bank | $168.6M |
| Dec 11, 2009 | Solutionsbank | $511.1M |
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