OLD SOUTHERN BANK Failed 2010
What happened
OLD SOUTHERN BANK of ORLANDO, FL was closed on 2010-03-12. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to CENTENNIAL BANK (CONWAY, AR). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 3763
- FDIC Certificate
- 58182
- FDIC FIN
- 10197
- Bank name
- OLD SOUTHERN BANK
- Location
- ORLANDO, FL
- Failure date
- 2010-03-12
- FDIC resolution date
- 2010-03-12
- Charter type
- State commercial bank, Federal Reserve member
- Resolution type
- Purchase & Assumption — acquiring bank assumed deposits + bought assets
- FDIC DIF cost (est.)
- $77M
- Deposits at failure
- $320M
- Assets at failure
- $336M
- Acquiring bank
- CENTENNIAL BANK (CONWAY, AR)
Other banks CENTENNIAL BANK acquired in FDIC resolutions