Bank Failure
Southwest Community Bank
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Closed May 14, 2010 · Springfield, MO · FDIC Cert #34255.
- Closing date
- May 14, 2010
- Headquarters
- Springfield, MO
- FDIC Certificate
- 34255
- Total assets at closing
- $100.7M
- Total deposits at closing
- $102.5M
- Estimated loss to the insurance fund
- $25.6M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Simmons First National Bank
Context
On May 14, 2010, regulators closed Southwest Community Bank, headquartered in Springfield, MO. At closing, the institution held approximately $100.7M in assets and $102.5M in deposits. The FDIC record names Simmons First National Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $25.6M.
By assets at closing this is the 1196th largest of the 3,526 bank failures in the FDIC record, and the 120th of 157 in 2010. 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 Southwest Community Bank fail?
Southwest Community Bank was closed by regulators on May 14, 2010.
Who acquired Southwest Community Bank?
The FDIC record names Simmons First National Bank as the acquiring institution in the resolution of Southwest Community Bank.
How big was Southwest Community Bank when it failed?
Southwest Community Bank had approximately $100.7M in total assets and $102.5M in deposits at the time of failure.
Other failures in 2010
| Date | Bank | Assets |
|---|---|---|
| Dec 17, 2010 | The Bank of Miami | $448.1M |
| Dec 17, 2010 | Chestatee State Bank | $244.4M |
| Dec 17, 2010 | United Americas Bank | $242.3M |
| Dec 17, 2010 | First Southern Bank | $191.8M |
| Dec 17, 2010 | Appalacian Community Bank, F.S.B. | $68.2M |
| Dec 17, 2010 | Community National Bank | $31.6M |
| Dec 10, 2010 | Paramount Bank | $252.7M |
| Dec 10, 2010 | Earthstar Bank | $112.6M |
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