Bank Failure
Trust Company Bank
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Closed April 29, 2016 · Memphis, TN · FDIC Cert #9956.
- Closing date
- April 29, 2016
- Headquarters
- Memphis, TN
- FDIC Certificate
- 9956
- Total assets at closing
- $19.0M
- Total deposits at closing
- $20.1M
- Estimated loss to the insurance fund
- $10.4M
- Insurance fund
- Deposit Insurance Fund (DIF)
- Resolution
- Failure (closed by regulators)
- Acquirer
- The Bank of Fayette County
Context
On April 29, 2016, regulators closed Trust Company Bank, headquartered in Memphis, TN. At closing, the institution held approximately $19.0M in assets and $20.1M in deposits. The FDIC record names The Bank of Fayette County 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 2380th largest of the 3,526 bank failures in the FDIC record, and the 5th of 5 in 2016. It falls in the period the record labels Post-Dodd-Frank Calm (2014-2022), a period with 47 failures peaking at 18 in 2014.
Source: FDIC Failed Banks list. Asset and deposit values reflect the most recent regulatory filing prior to closing.
Common questions
When did Trust Company Bank fail?
Trust Company Bank was closed by regulators on April 29, 2016.
Who acquired Trust Company Bank?
The FDIC record names The Bank of Fayette County as the acquiring institution in the resolution of Trust Company Bank.
How big was Trust Company Bank when it failed?
Trust Company Bank had approximately $19.0M in total assets and $20.1M in deposits at the time of failure.
Other failures in 2016
| Date | Bank | Assets |
|---|---|---|
| Sep 23, 2016 | Allied Bank | $66.3M |
| Aug 19, 2016 | The Woodbury Banking Company | $21.4M |
| May 6, 2016 | First Cornerstone Bank | $103.3M |
| Mar 11, 2016 | North Milwaukee State Bank | $67.1M |
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