Bank Failure
Southern National Bank
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Closed June 14, 1979 · Birmingham, AL · FDIC Cert #22102.
- Closing date
- June 14, 1979
- Headquarters
- Birmingham, AL
- FDIC Certificate
- 22102
- Total assets at closing
- $32.6M
- Total deposits at closing
- $24.0M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this failure)
- Insurance fund
- FDIC insurance fund
- Resolution
- Failure (closed by regulators)
Context
On June 14, 1979, regulators closed Southern National Bank, headquartered in Birmingham, AL. At closing, the institution held approximately $32.6M in assets and $24.0M in deposits. The FDIC record does not name an acquiring institution.
By assets at closing this is the 1984th largest of the 3,526 bank failures in the FDIC record, and the 2nd of 10 in 1979. It falls in the period the record labels Postwar Stability (1945-1979), a period with 161 failures peaking at 16 in 1976.
Three decades of regulated calm — Reg Q ceilings, geographic branching limits, and high industry profits kept failures rare.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Southern National Bank fail?
Southern National Bank was closed by regulators on June 14, 1979.
How big was Southern National Bank when it failed?
Southern National Bank had approximately $32.6M in total assets and $24.0M in deposits at the time of failure.
Other failures in 1979
| Date | Bank | Assets |
|---|---|---|
| Oct 12, 1979 | Livingston State Bank | $12.7M |
| Oct 12, 1979 | American National Bank | $10.7M |
| Sep 28, 1979 | Fidelity Bank | $32.8M |
| Sep 21, 1979 | The Farmers State Bank | $5.0M |
| Jul 14, 1979 | Gateway National Bank | $16.9M |
| Jul 14, 1979 | The Guaranty Bank & Trust Company | $7.9M |
| Jun 16, 1979 | Bank of Enville | $3.5M |
| Jan 26, 1979 | Village Bank | $5.1M |
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