Bank Failure
Jasper Banking Company
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Closed July 27, 2012 · Jasper, GA · FDIC Cert #16240.
- Closing date
- July 27, 2012
- Headquarters
- Jasper, GA
- FDIC Certificate
- 16240
- Total assets at closing
- $206.7M
- Total deposits at closing
- $204.2M
- Estimated loss to the insurance fund
- $49.2M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Stearns Bank N.A.
Context
On July 27, 2012, regulators closed Jasper Banking Company, headquartered in Jasper, GA. At closing, the institution held approximately $206.7M in assets and $204.2M in deposits. The FDIC record names Stearns Bank N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $49.2M.
By assets at closing this is the 761st largest of the 3,526 bank failures in the FDIC record, and the 19th 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 Jasper Banking Company fail?
Jasper Banking Company was closed by regulators on July 27, 2012.
Who acquired Jasper Banking Company?
The FDIC record names Stearns Bank N.A. as the acquiring institution in the resolution of Jasper Banking Company.
How big was Jasper Banking Company when it failed?
Jasper Banking Company had approximately $206.7M in total assets and $204.2M 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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