COMMUNITYSOUTH BANK AND TRUST Failed 2011

EASLEY, SC · State commercial bank, non-Federal Reserve member (FDIC-supervised) · view on FDIC BankFind ↗

What happened

COMMUNITYSOUTH BANK AND TRUST of EASLEY, SC was closed on 2011-01-21. The FDIC was named receiver.

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

Deposits were transferred to CERTUS BANK, NATIONAL ASSOCIATION (CHARLOTTE, NC). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
3897
FDIC Certificate
57868
FDIC FIN
10328
Bank name
COMMUNITYSOUTH BANK AND TRUST
Location
EASLEY, SC
Failure date
2011-01-21
FDIC resolution date
2011-01-21
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.)
$45M
Deposits at failure
$314M
Assets at failure
$341M
Acquiring bank
CERTUS BANK, NATIONAL ASSOCIATION (CHARLOTTE, NC)