CAPITALSOUTH BANK Failed 2009
What happened
CAPITALSOUTH BANK of BIRMINGHAM, AL was closed on 2009-08-21. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to IBERIABANK (LAFAYETTE, LA). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3671
- FDIC Certificate
- 22130
- FDIC FIN
- 10106
- Bank name
- CAPITALSOUTH BANK
- Location
- BIRMINGHAM, AL
- Failure date
- 2009-08-21
- FDIC resolution date
- 2009-08-21
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $126M
- Deposits at failure
- $539M
- Assets at failure
- $587M
- Acquiring bank
- IBERIABANK (LAFAYETTE, LA)
Other banks IBERIABANK acquired in FDIC resolutions