Bank Failure
The Gordon Bank
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Closed October 22, 2010 · Gordon, GA · FDIC Cert #33904.
- Closing date
- October 22, 2010
- Headquarters
- Gordon, GA
- FDIC Certificate
- 33904
- Total assets at closing
- $29.3M
- Total deposits at closing
- $26.9M
- Estimated loss to the insurance fund
- $10.4M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- Morris Bank
Context
On October 22, 2010, regulators closed The Gordon Bank, headquartered in Gordon, GA. At closing, the institution held approximately $29.3M in assets and $26.9M in deposits. The FDIC record names Morris Bank as the acquiring institution in the resolution. The estimated cost to the Deposit Insurance Fund (DIF) was approximately $10.4M.
By assets at closing this is the 2069th largest of the 3,526 bank failures in the FDIC record, and the 149th 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 The Gordon Bank fail?
The Gordon Bank was closed by regulators on October 22, 2010.
Who acquired The Gordon Bank?
The FDIC record names Morris Bank as the acquiring institution in the resolution of The Gordon Bank.
How big was The Gordon Bank when it failed?
The Gordon Bank had approximately $29.3M in total assets and $26.9M 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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