Bank Failure
Global Commerce Bank
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Closed March 2, 2012 · Doraville, GA · FDIC Cert #34046.
- Closing date
- March 2, 2012
- Headquarters
- Doraville, GA
- FDIC Certificate
- 34046
- Total assets at closing
- $143.7M
- Total deposits at closing
- $116.8M
- Estimated loss to the insurance fund
- $40.3M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Metro City Bank
Context
On March 2, 2012, regulators closed Global Commerce Bank, headquartered in Doraville, GA. At closing, the institution held approximately $143.7M in assets and $116.8M in deposits. The FDIC record names Metro City Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $40.3M.
By assets at closing this is the 967th largest of the 3,526 bank failures in the FDIC record, and the 29th of 51 in 2012. 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 Global Commerce Bank fail?
Global Commerce Bank was closed by regulators on March 2, 2012.
Who acquired Global Commerce Bank?
The FDIC record names Metro City Bank as the acquiring institution in the resolution of Global Commerce Bank.
How big was Global Commerce Bank when it failed?
Global Commerce Bank had approximately $143.7M in total assets and $116.8M in deposits at the time of failure.
Other failures in 2012
| Date | Bank | Assets |
|---|---|---|
| Dec 14, 2012 | Community Bank of the Ozarks | $42.8M |
| Nov 16, 2012 | Hometown Communitybank | $124.6M |
| Nov 2, 2012 | Citizens First National Bank | $924.0M |
| Nov 2, 2012 | Heritage Bank of Florida | $225.5M |
| Oct 26, 2012 | Nova Bank | $444.7M |
| Oct 19, 2012 | Excel Bank | $186.1M |
| Oct 19, 2012 | Gulfsouth Private Bank | $139.4M |
| Oct 19, 2012 | First East Side Savings Bank | $65.7M |
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