MOUNTAIN NATIONAL BANK Failed 2013

What happened

MOUNTAIN NATIONAL BANK of SEVIERVILLE, TN was closed on 2013-06-07. The FDIC was named receiver.

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

Deposits were transferred to FIRST TENNESSEE BANK, NATIONAL ASSOCIATION (MEMPHIS, TN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

4049

FDIC Certificate

34789

FDIC FIN

10483

Bank name

MOUNTAIN NATIONAL BANK

Location

SEVIERVILLE, TN

Failure date

2013-06-07

FDIC resolution date

2013-06-07

Charter type

National commercial bank (OCC-chartered)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$33M

Deposits at failure

$373M

Assets at failure

$437M

Acquiring bank

FIRST TENNESSEE BANK, NATIONAL ASSOCIATION (MEMPHIS, TN)