Bank Failure
SECURITY BANK OF NORTH FULTON
Closed July 24, 2009 · ALPHARETTA, GA · FDIC Cert #57430.
- Closing date
- July 24, 2009
- Headquarters
- ALPHARETTA, GA
- FDIC Certificate
- 57430
- Total assets at closing
- $190,564,000
- Total deposits at closing
- $179,523,000
- Estimated loss to DIF
- $49,000,000
- Resolution type
- other
- Acquirer
- STATE BANK AND TRUST COMPANY (FDIC Cert #10089)
Context
On July 24, 2009, regulators closed SECURITY BANK OF NORTH FULTON, headquartered in ALPHARETTA, GA. At closing, the institution held approximately $190,564,000 in assets and $179,523,000 in deposits. The FDIC arranged a resolution under which STATE BANK AND TRUST COMPANY acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $49,000,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 2009
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 2009-12-18 | FIRST FEDERAL BANK OF CALIFORNIA, A FEDERAL SAVINGS BANK | SANTA MONICA, CA | $6,143,903,000 |
| 2009-12-18 | IMPERIAL CAPITAL BANK | LA JOLLA, CA | $4,046,888,000 |
| 2009-12-18 | PEOPLES FIRST COMMUNITY BANK | PANAMA CITY, FL | $1,795,420,000 |
| 2009-12-18 | NEW SOUTH FEDERAL SAVINGS BANK | IRONDALE, AL | $1,464,127,000 |
| 2009-12-18 | INDEPENDENT BANKERS' BANK | SPRINGFIELD, IL | $585,508,000 |
| 2009-12-18 | ROCKBRIDGE COMMERCIAL BANK | ATLANTA, GA | $294,024,000 |
| 2009-12-18 | CITIZENS STATE BANK | NEW BALTIMORE, MI | $168,551,000 |
| 2009-12-11 | SOLUTIONSBANK | OVERLAND PARK, KS | $511,103,000 |
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