Bank Failure
Tifton Banking Company
Closed November 12, 2010 · Tifton, GA · FDIC Cert #57831.
- Closing date
- November 12, 2010
- Headquarters
- Tifton, GA
- FDIC Certificate
- 57831
- Total assets at closing
- $143.7M
- Total deposits at closing
- $141.6M
- Estimated loss to DIF
- $21.4M
- Resolution
- Failure (closed by regulators)
- Acquirer
- Ameris Bank
Context
On November 12, 2010, regulators closed Tifton Banking Company, headquartered in Tifton, GA. At closing, the institution held approximately $143.7M in assets and $141.6M in deposits. The FDIC arranged a resolution under which Ameris Bank acquired the failed bank's operations. The estimated cost to the FDIC Deposit Insurance Fund was approximately $21.4M.
By assets at closing this is the 965th largest of the 3,524 bank failures in the FDIC record, and the 105th 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 Tifton Banking Company fail?
Tifton Banking Company was closed by regulators on November 12, 2010.
Who acquired Tifton Banking Company?
Ameris Bank acquired the failed bank's deposits and operations on November 12, 2010 under an FDIC-brokered resolution.
How big was Tifton Banking Company when it failed?
Tifton Banking Company had approximately $143.7M in total assets and $141.6M 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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