# NEW SOUTH FEDERAL SAVINGS BANK

> **Failed bank** · IRONDALE, AL · failed 2009-12-18 · Savings bank · FDIC cost $312M

## What happened

NEW SOUTH FEDERAL SAVINGS BANK of IRONDALE, AL was closed by state regulators on **2009-12-18**. The FDIC was named receiver.

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

Deposits were transferred to **BEAL BANK** (PLANO, TX). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3732
- **FDIC Certificate:** 32276
- **FDIC FIN:** 10163
- **Bank name:** NEW SOUTH FEDERAL SAVINGS BANK
- **Location:** IRONDALE, AL
- **Failure date:** 2009-12-18
- **FDIC resolution date:** 2009-12-18
- **Charter type:** Savings bank
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $312M
- **Deposits at failure:** $1,164M
- **Assets at failure:** $1,464M
- **Acquiring bank:** BEAL BANK (PLANO, TX)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=NEW%20SOUTH%20FEDERAL%20SAVINGS%20BANK

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, NEW SOUTH FEDERAL SAVINGS BANK (FDIC ID 3732), failed 2009-12-18. Retrieved via AI Analytics 2026-05-18 from https://api.ai-analytics.org/failed-bank/3732.

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*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*