CHEROKEE COUNTY BANK Failed 1984

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

What happened

CHEROKEE COUNTY BANK of CENTRE, AL was closed on 1984-06-05. The FDIC was named receiver.

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

Deposits were transferred to FIRST ALBANK OF ANNISTON (ANNISTON, AL). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
885
FDIC Certificate
9054
FDIC FIN
2393
Bank name
CHEROKEE COUNTY BANK
Location
CENTRE, AL
Failure date
1984-06-05
FDIC resolution date
1984-06-05
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.)
$7M
Deposits at failure
$38M
Assets at failure
$39M
Acquiring bank
FIRST ALBANK OF ANNISTON (ANNISTON, AL)