FDIC Open-Bank Assistance
The Commercial Bank
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Assistance provided August 16, 1985 · Andalusia, AL · FDIC Cert #55.
- Assistance date
- August 16, 1985
- Headquarters
- Andalusia, AL
- FDIC Certificate
- 55
- Total assets at the time
- $77.8M
- Total deposits at the time
- $76.4M
- Estimated loss to the insurance fund
- Not published (the FDIC feed carries no estimate for this transaction)
- Insurance fund
- FDIC insurance fund
- Resolution
- Open-bank assistance (the institution stayed open)
- Acquirer
- The Commercial Bank
Context
On August 16, 1985, the FDIC provided open-bank assistance to The Commercial Bank, headquartered in Andalusia, AL. The institution continued operating. At the time it held approximately $77.8M in assets and $76.4M in deposits. The assistance went to the bank itself; no other institution acquired it.
The FDIC record for 1985 holds 139 failures and 41 open-bank assistance transactions. It falls in the period the record labels S&L / Banking Crisis (1980-1995), a period with 2,367 failures peaking at 530 in 1989.
Deregulation, interest-rate shocks, and commercial real estate blowups produced the worst US banking failure wave since the Depression. Resulted in FIRREA (1989) and the RTC.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did the FDIC provide assistance to The Commercial Bank?
The Commercial Bank received FDIC open-bank assistance on August 16, 1985; it did not fail.
How big was The Commercial Bank at the time of assistance?
The Commercial Bank had approximately $77.8M in total assets and $76.4M in deposits at the time of assistance.
Bank failures in 1985
| Date | Bank | Assets |
|---|---|---|
| Dec 20, 1985 | First City Bank | $35.8M |
| Dec 20, 1985 | State Bank of Frost | $7.7M |
| Dec 19, 1985 | Princeton State Bank | $18.4M |
| Dec 19, 1985 | Farmers State Bank | $12.5M |
| Dec 19, 1985 | Bank of Panama | $4.4M |
| Dec 19, 1985 | Farmers & Merchants Bank | $3.3M |
| Dec 13, 1985 | The First National Bank in Lincoln County | $32.0M |
| Dec 13, 1985 | Lake National Bank | $19.8M |
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