Bank Failure
Security Exchange Bank
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Closed June 15, 2012 · Marietta, GA · FDIC Cert #35299.
- Closing date
- June 15, 2012
- Headquarters
- Marietta, GA
- FDIC Certificate
- 35299
- Total assets at closing
- $151.0M
- Total deposits at closing
- $147.9M
- Estimated loss to the insurance fund
- $44.8M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Fidelity Bank
Context
On June 15, 2012, regulators closed Security Exchange Bank, headquartered in Marietta, GA. At closing, the institution held approximately $151.0M in assets and $147.9M in deposits. The FDIC record names Fidelity Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $44.8M.
By assets at closing this is the 933rd largest of the 3,526 bank failures in the FDIC record, and the 28th of 51 in 2012. 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 Exchange Bank fail?
Security Exchange Bank was closed by regulators on June 15, 2012.
Who acquired Security Exchange Bank?
The FDIC record names Fidelity Bank as the acquiring institution in the resolution of Security Exchange Bank.
How big was Security Exchange Bank when it failed?
Security Exchange Bank had approximately $151.0M in total assets and $147.9M in deposits at the time of failure.
Other failures in 2012
| Date | Bank | Assets |
|---|---|---|
| Dec 14, 2012 | Community Bank of the Ozarks | $42.8M |
| Nov 16, 2012 | Hometown Communitybank | $124.6M |
| Nov 2, 2012 | Citizens First National Bank | $924.0M |
| Nov 2, 2012 | Heritage Bank of Florida | $225.5M |
| Oct 26, 2012 | Nova Bank | $444.7M |
| Oct 19, 2012 | Excel Bank | $186.1M |
| Oct 19, 2012 | Gulfsouth Private Bank | $139.4M |
| Oct 19, 2012 | First East Side Savings Bank | $65.7M |
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