# BANK OF THE COMMONWEALTH

> **Failed bank** · NORFOLK, VA · failed 2011-09-23 · State commercial bank, Federal Reserve member · FDIC cost $239M

## What happened

BANK OF THE COMMONWEALTH of NORFOLK, VA was closed by state regulators on **2011-09-23**. The FDIC was named receiver.

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

Deposits were transferred to **SOUTHERN BANK AND TRUST COMPANY** (MOUNT OLIVE, NC). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 3962
- **FDIC Certificate:** 20408
- **FDIC FIN:** 10396
- **Bank name:** BANK OF THE COMMONWEALTH
- **Location:** NORFOLK, VA
- **Failure date:** 2011-09-23
- **FDIC resolution date:** 2011-09-23
- **Charter type:** State commercial bank, Federal Reserve member
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $239M
- **Deposits at failure:** $902M
- **Assets at failure:** $985M
- **Acquiring bank:** SOUTHERN BANK AND TRUST COMPANY (MOUNT OLIVE, NC)

## Primary source

FDIC BankFind failed-bank search: https://banks.data.fdic.gov/explore/failures?searchName=BANK%20OF%20THE%20COMMONWEALTH

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, BANK OF THE COMMONWEALTH (FDIC ID 3962), failed 2011-09-23. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/3962.

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