Bank Failure
Frontier Bank
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Closed March 8, 2013 · Lagrange, GA · FDIC Cert #16431.
- Closing date
- March 8, 2013
- Headquarters
- Lagrange, GA
- FDIC Certificate
- 16431
- Total assets at closing
- $258.8M
- Total deposits at closing
- $224.1M
- Estimated loss to the insurance fund
- $73.4M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Heritage Bank of the South
Context
On March 8, 2013, regulators closed Frontier Bank, headquartered in Lagrange, GA. At closing, the institution held approximately $258.8M in assets and $224.1M in deposits. The FDIC record names Heritage Bank of the South as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $73.4M.
By assets at closing this is the 628th largest of the 3,526 bank failures in the FDIC record, and the 5th of 24 in 2013. 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 Frontier Bank fail?
Frontier Bank was closed by regulators on March 8, 2013.
Who acquired Frontier Bank?
The FDIC record names Heritage Bank of the South as the acquiring institution in the resolution of Frontier Bank.
How big was Frontier Bank when it failed?
Frontier Bank had approximately $258.8M in total assets and $224.1M in deposits at the time of failure.
Other failures in 2013
| Date | Bank | Assets |
|---|---|---|
| Dec 13, 2013 | Texas Community Bank, N.A. | $159.3M |
| Oct 30, 2013 | Bank of Jackson County | $24.7M |
| Sep 13, 2013 | First National Bank | $3.09B |
| Sep 13, 2013 | The Community's Bank | $26.4M |
| Aug 23, 2013 | Community South Bank | $386.9M |
| Aug 23, 2013 | Sunrise Bank of Arizona | $202.2M |
| Aug 9, 2013 | Bank of Wausau | $43.6M |
| Aug 2, 2013 | First Community Bank of Southwest Florida | $247.3M |
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