Bank Failure
Nexity Bank
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Closed April 15, 2011 · Birmingham, AL · FDIC Cert #19794.
- Closing date
- April 15, 2011
- Headquarters
- Birmingham, AL
- FDIC Certificate
- 19794
- Total assets at closing
- $757.6M
- Total deposits at closing
- $611.7M
- Estimated loss to the insurance fund
- $182.0M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Alostar Bank of Commerce
Context
On April 15, 2011, regulators closed Nexity Bank, headquartered in Birmingham, AL. At closing, the institution held approximately $757.6M in assets and $611.7M in deposits. The FDIC record names Alostar Bank of Commerce as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $182.0M.
By assets at closing this is the 273rd largest of the 3,526 bank failures in the FDIC record, and the 12th 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 Nexity Bank fail?
Nexity Bank was closed by regulators on April 15, 2011.
Who acquired Nexity Bank?
The FDIC record names Alostar Bank of Commerce as the acquiring institution in the resolution of Nexity Bank.
How big was Nexity Bank when it failed?
Nexity Bank had approximately $757.6M in total assets and $611.7M 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 |
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