Bank Failure
The First State Bank
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Closed January 20, 2012 · Stockbridge, GA · FDIC Cert #19252.
- Closing date
- January 20, 2012
- Headquarters
- Stockbridge, GA
- FDIC Certificate
- 19252
- Total assets at closing
- $516.8M
- Total deposits at closing
- $509.1M
- Estimated loss to the insurance fund
- $192.1M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Hamilton State Bank
Context
On January 20, 2012, regulators closed The First State Bank, headquartered in Stockbridge, GA. At closing, the institution held approximately $516.8M in assets and $509.1M in deposits. The FDIC record names Hamilton State Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $192.1M.
By assets at closing this is the 370th largest of the 3,526 bank failures in the FDIC record, and the 5th of 51 in 2012. 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 First State Bank fail?
The First State Bank was closed by regulators on January 20, 2012.
Who acquired The First State Bank?
The FDIC record names Hamilton State Bank as the acquiring institution in the resolution of The First State Bank.
How big was The First State Bank when it failed?
The First State Bank had approximately $516.8M in total assets and $509.1M in deposits at the time of failure.
Other failures in 2012
| Date | Bank | Assets |
|---|---|---|
| Dec 14, 2012 | Community Bank of the Ozarks | $42.8M |
| Nov 16, 2012 | Hometown Communitybank | $124.6M |
| Nov 2, 2012 | Citizens First National Bank | $924.0M |
| Nov 2, 2012 | Heritage Bank of Florida | $225.5M |
| Oct 26, 2012 | Nova Bank | $444.7M |
| Oct 19, 2012 | Excel Bank | $186.1M |
| Oct 19, 2012 | Gulfsouth Private Bank | $139.4M |
| Oct 19, 2012 | First East Side Savings Bank | $65.7M |
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