SMITH COUNTY BANK Failed 1983
What happened
SMITH COUNTY BANK of CARTHAGE, TN was closed on 1983-05-06. The FDIC was named receiver.
Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets
Deposits were transferred to MURFREESBORO BANK&TRUST (MURFREESBORO, TN). Customers became depositors of the acquiring bank automatically.
Key facts
- FDIC ID
- 777
- FDIC Certificate
- 1483
- FDIC FIN
- 2345
- Bank name
- SMITH COUNTY BANK
- Location
- CARTHAGE, TN
- Failure date
- 1983-05-06
- FDIC resolution date
- 1983-05-06
- 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.)
- $5M
- Deposits at failure
- $31M
- Assets at failure
- $33M
- Acquiring bank
- MURFREESBORO BANK&TRUST (MURFREESBORO, TN)
Other banks MURFREESBORO BANK&TRUST acquired in FDIC resolutions