Bank Failure
The Community Bank
BankRegReports is independent of The Community Bank and never asks for online banking logins or passwords.
Closed November 21, 2008 · Loganville, GA · FDIC Cert #16490.
- Closing date
- November 21, 2008
- Headquarters
- Loganville, GA
- FDIC Certificate
- 16490
- Total assets at closing
- $634.9M
- Total deposits at closing
- $603.7M
- Estimated loss to the insurance fund
- $335.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Bank of Essex
Context
On November 21, 2008, regulators closed The Community Bank, headquartered in Loganville, GA. At closing, the institution held approximately $634.9M in assets and $603.7M in deposits. The FDIC record names Bank of Essex as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $335.1M.
By assets at closing this is the 310th largest of the 3,526 bank failures in the FDIC record, and the 11th of 25 in 2008. 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 The Community Bank fail?
The Community Bank was closed by regulators on November 21, 2008.
Who acquired The Community Bank?
The FDIC record names Bank of Essex as the acquiring institution in the resolution of The Community Bank.
How big was The Community Bank when it failed?
The Community Bank had approximately $634.9M in total assets and $603.7M in deposits at the time of failure.
Other failures in 2008
| Date | Bank | Assets |
|---|---|---|
| Dec 12, 2008 | Haven Trust Bank | $559.6M |
| Dec 12, 2008 | Sanderson State Bank | $38.2M |
| Dec 5, 2008 | First Georgia Community Bank | $256.4M |
| Nov 21, 2008 | Downey Savings and Loan Association, F.A. | $12.78B |
| Nov 21, 2008 | PFF Bank & Trust | $3.72B |
| Nov 7, 2008 | Franklin Bank, SSB | $5.09B |
| Nov 7, 2008 | Security Pacific Bank | $528.0M |
| Oct 31, 2008 | Freedom Bank | $270.8M |
Explore: all failures · GA bank events · 2008 events · events hub