Bank Failure
SECURITY EXCHANGE BANK
Closed June 15, 2012 · MARIETTA, GA · FDIC Cert #35299.
- Closing date
- June 15, 2012
- Headquarters
- MARIETTA, GA
- FDIC Certificate
- 35299
- Total assets at closing
- $150,962,000
- Total deposits at closing
- $147,896,000
- Estimated loss to DIF
- $44,760,000
- Resolution type
- other
- Acquirer
- FIDELITY BANK (FDIC Cert #10446)
Context
On June 15, 2012, regulators closed SECURITY EXCHANGE BANK, headquartered in MARIETTA, GA. At closing, the institution held approximately $150,962,000 in assets and $147,896,000 in deposits. The FDIC arranged a resolution under which FIDELITY BANK acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $44,760,000.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Other failures in 2012
| Date | Bank | HQ | Assets |
|---|---|---|---|
| 2012-12-14 | COMMUNITY BANK OF THE OZARKS | SUNRISE, MO | $42,816,000 |
| 2012-11-16 | HOMETOWN COMMUNITYBANK | BRASELTON, GA | $124,561,000 |
| 2012-11-02 | CITIZENS FIRST NATIONAL BANK | PRINCETON, IL | $923,959,000 |
| 2012-11-02 | HERITAGE BANK OF FLORIDA | LUTZ, FL | $225,477,000 |
| 2012-10-26 | NOVA BANK | BERWYN, PA | $444,710,000 |
| 2012-10-19 | EXCEL BANK | SEDALIA, MO | $186,113,000 |
| 2012-10-19 | GULFSOUTH PRIVATE BANK | DESTIN, FL | $139,391,000 |
| 2012-10-19 | FIRST EAST SIDE SAVINGS BANK | TAMARAC, FL | $65,686,000 |
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