Bank Failure
Mountain National Bank
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Closed June 7, 2013 · Sevierville, TN · FDIC Cert #34789.
- Closing date
- June 7, 2013
- Headquarters
- Sevierville, TN
- FDIC Certificate
- 34789
- Total assets at closing
- $437.3M
- Total deposits at closing
- $373.4M
- Estimated loss to the insurance fund
- $33.3M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- First Tennessee Bank, N.A.
Context
On June 7, 2013, regulators closed Mountain National Bank, headquartered in Sevierville, TN. At closing, the institution held approximately $437.3M in assets and $373.4M in deposits. The FDIC record names First Tennessee Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $33.3M.
By assets at closing this is the 421st largest of the 3,526 bank failures in the FDIC record, and the 2nd 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 Mountain National Bank fail?
Mountain National Bank was closed by regulators on June 7, 2013.
Who acquired Mountain National Bank?
The FDIC record names First Tennessee Bank, N.A. as the acquiring institution in the resolution of Mountain National Bank.
How big was Mountain National Bank when it failed?
Mountain National Bank had approximately $437.3M in total assets and $373.4M 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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