Bank Failure
Superior Bank
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Closed April 15, 2011 · Birmingham, AL · FDIC Cert #17750.
- Closing date
- April 15, 2011
- Headquarters
- Birmingham, AL
- FDIC Certificate
- 17750
- Total assets at closing
- $2.98B
- Total deposits at closing
- $2.74B
- Estimated loss to the insurance fund
- $281.2M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Superior Bank, N.A.
Context
On April 15, 2011, regulators closed Superior Bank, headquartered in Birmingham, AL. At closing, the institution held approximately $2.98B in assets and $2.74B in deposits. The FDIC record names Superior Bank, N.A. as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $281.2M.
By assets at closing this is the 77th largest of the 3,526 bank failures in the FDIC record, and the 1st of 92 in 2011. 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 Superior Bank fail?
Superior Bank was closed by regulators on April 15, 2011.
Who acquired Superior Bank?
The FDIC record names Superior Bank, N.A. as the acquiring institution in the resolution of Superior Bank.
How big was Superior Bank when it failed?
Superior Bank had approximately $2.98B in total assets and $2.74B in deposits at the time of failure.
Other failures in 2011
| Date | Bank | Assets |
|---|---|---|
| Dec 16, 2011 | Western National Bank | $162.9M |
| Dec 16, 2011 | Premier Community Bank of the Emerald Coast | $126.0M |
| Nov 18, 2011 | Central Progressive Bank | $383.1M |
| Nov 18, 2011 | Polk County Bank | $91.6M |
| Nov 10, 2011 | Community Bank of Rockmart | $62.4M |
| Nov 4, 2011 | Sunfirst Bank | $198.1M |
| Nov 4, 2011 | Mid City Bank, Inc. | $106.1M |
| Oct 28, 2011 | All American Bank | $34.8M |
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