Bank Failure
Security Bank of North Metro
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Closed July 24, 2009 · Woodstock, GA · FDIC Cert #57105.
- Closing date
- July 24, 2009
- Headquarters
- Woodstock, GA
- FDIC Certificate
- 57105
- Total assets at closing
- $184.2M
- Total deposits at closing
- $182.4M
- Estimated loss to the insurance fund
- $102.0M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- State Bank and Trust Company
Context
On July 24, 2009, regulators closed Security Bank of North Metro, headquartered in Woodstock, GA. At closing, the institution held approximately $184.2M in assets and $182.4M in deposits. The FDIC record names State Bank and Trust Company as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $102.0M.
By assets at closing this is the 819th largest of the 3,526 bank failures in the FDIC record, and the 87th of 140 in 2009. 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 Security Bank of North Metro fail?
Security Bank of North Metro was closed by regulators on July 24, 2009.
Who acquired Security Bank of North Metro?
The FDIC record names State Bank and Trust Company as the acquiring institution in the resolution of Security Bank of North Metro.
How big was Security Bank of North Metro when it failed?
Security Bank of North Metro had approximately $184.2M in total assets and $182.4M in deposits at the time of failure.
Other failures in 2009
| Date | Bank | Assets |
|---|---|---|
| Dec 18, 2009 | First Federal Bank of California, a Federal Savings Bank | $6.14B |
| Dec 18, 2009 | Imperial Capital Bank | $4.05B |
| Dec 18, 2009 | Peoples First Community Bank | $1.80B |
| Dec 18, 2009 | New South Federal Savings Bank | $1.46B |
| Dec 18, 2009 | Independent Bankers' Bank | $585.5M |
| Dec 18, 2009 | Rockbridge Commercial Bank | $294.0M |
| Dec 18, 2009 | Citizens State Bank | $168.6M |
| Dec 11, 2009 | Solutionsbank | $511.1M |
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