FIRST SOUTHERN BANK Failed 2010

What happened

FIRST SOUTHERN BANK of BATESVILLE, AR was closed on 2010-12-17. The FDIC was named receiver.

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

Deposits were transferred to SOUTHERN BANK (POPLAR BLUFF, MO). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

3889

FDIC Certificate

58052

FDIC FIN

10322

Bank name

FIRST SOUTHERN BANK

Location

BATESVILLE, AR

Failure date

2010-12-17

FDIC resolution date

2010-12-17

Charter type

State commercial bank, non-Federal Reserve member (FDIC-supervised)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$25M

Deposits at failure

$156M

Assets at failure

$192M

Acquiring bank

SOUTHERN BANK (POPLAR BLUFF, MO)