GULFSOUTH PRIVATE BANK Failed 2012

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

What happened

GULFSOUTH PRIVATE BANK of DESTIN, FL was closed on 2012-10-19. The FDIC was named receiver.

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

Deposits were transferred to SMARTBANK (PIGEON FORGE, TN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
4028
FDIC Certificate
58073
FDIC FIN
10462
Bank name
GULFSOUTH PRIVATE BANK
Location
DESTIN, FL
Failure date
2012-10-19
FDIC resolution date
2012-10-19
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.)
$40M
Deposits at failure
$132M
Assets at failure
$139M
Acquiring bank
SMARTBANK (PIGEON FORGE, TN)