# EAST GADSDEN BANK

> **Failed bank** · GADSDEN, AL · failed 1980-12-31 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $1M

## What happened

EAST GADSDEN BANK of GADSDEN, AL was closed by regulators on **1980-12-31**. The FDIC was named receiver.

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

Deposits were transferred to **CENTRAL BANK OF ALABAMA** (DECATUR, AL). Customers became depositors of the acquiring bank automatically.


## Key facts

- **FDIC ID:** 584
- **FDIC Certificate:** 40
- **FDIC FIN:** 2286
- **Bank name:** EAST GADSDEN BANK
- **Location:** GADSDEN, AL
- **Failure date:** 1980-12-31
- **FDIC resolution date:** 1980-12-31
- **Charter type:** State commercial bank, non-Federal Reserve member (FDIC-supervised)
- **Resolution type:** Purchase & Assumption — acquiring bank assumed deposits + bought assets
- **Estimated FDIC DIF cost:** $1M
- **Deposits at failure:** $41M
- **Assets at failure:** $44M
- **Acquiring bank:** CENTRAL BANK OF ALABAMA (DECATUR, AL)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, EAST GADSDEN BANK (FDIC ID 584), failed 1980-12-31. Retrieved via AI Analytics 2026-05-17 from https://api.ai-analytics.org/failed-bank/584.

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