Bank Failure
Mountain Heritage Bank
BankRegReports is independent of Mountain Heritage Bank and never asks for online banking logins or passwords.
Closed June 24, 2011 · Clayton, GA · FDIC Cert #57593.
- Closing date
- June 24, 2011
- Headquarters
- Clayton, GA
- FDIC Certificate
- 57593
- Total assets at closing
- $103.7M
- Total deposits at closing
- $89.6M
- Estimated loss to the insurance fund
- $34.5M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First American Bank and Trust Company
Context
On June 24, 2011, regulators closed Mountain Heritage Bank, headquartered in Clayton, GA. At closing, the institution held approximately $103.7M in assets and $89.6M 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 $34.5M.
By assets at closing this is the 1181st largest of the 3,526 bank failures in the FDIC record, and the 74th of 92 in 2011. 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 Mountain Heritage Bank fail?
Mountain Heritage Bank was closed by regulators on June 24, 2011.
Who acquired Mountain Heritage Bank?
The FDIC record names First American Bank and Trust Company as the acquiring institution in the resolution of Mountain Heritage Bank.
How big was Mountain Heritage Bank when it failed?
Mountain Heritage Bank had approximately $103.7M in total assets and $89.6M in deposits at the time of failure.
Other failures in 2011
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 2011 | Western National Bank | $162.9M |
| Dec 16, 2011 | Premier Community Bank of the Emerald Coast | $126.0M |
| Nov 18, 2011 | Central Progressive Bank | $383.1M |
| Nov 18, 2011 | Polk County Bank | $91.6M |
| Nov 10, 2011 | Community Bank of Rockmart | $62.4M |
| Nov 4, 2011 | Sunfirst Bank | $198.1M |
| Nov 4, 2011 | Mid City Bank, Inc. | $106.1M |
| Oct 28, 2011 | All American Bank | $34.8M |
Explore: all failures · GA bank events · 2011 events · events hub