TRUST COMPANY BANK Failed 2016

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

What happened

TRUST COMPANY BANK of MEMPHIS, TN was closed on 2016-04-29. The FDIC was named receiver.

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

Deposits were transferred to THE BANK OF FAYETTE COUNTY (PIPERTON, TN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
4085
FDIC Certificate
9956
FDIC FIN
10519
Bank name
TRUST COMPANY BANK
Location
MEMPHIS, TN
Failure date
2016-04-29
FDIC resolution date
2016-04-29
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.)
$10M
Deposits at failure
$20M
Assets at failure
$19M
Acquiring bank
THE BANK OF FAYETTE COUNTY (PIPERTON, TN)
FDIC comments
Updated 8/30 with QBFfail assets/dep/eq