# AMERICAN SOUTHERN BANK

> **Failed bank** · KENNESAW, GA · failed 2009-04-24 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $33M

## What happened

AMERICAN SOUTHERN BANK of KENNESAW, GA was closed by regulators on **2009-04-24**. The FDIC was named receiver.

**Resolution:** Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to **BANK OF NORTH GEORGIA** (ALPHARETTA, GA). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3622
- **FDIC Certificate:** 57943
- **FDIC FIN:** 10053
- **Bank name:** AMERICAN SOUTHERN BANK
- **Location:** KENNESAW, GA
- **Failure date:** 2009-04-24
- **FDIC resolution date:** 2009-04-24
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $33M
- **Deposits at failure:** $106M
- **Assets at failure:** $106M
- **Acquiring bank:** BANK OF NORTH GEORGIA (ALPHARETTA, GA)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=AMERICAN%20SOUTHERN%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, AMERICAN SOUTHERN BANK (FDIC ID 3622), failed 2009-04-24. Retrieved via AI Analytics 2026-06-25 from https://api.ai-analytics.org/failed-bank/3622.

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