# CHEROKEE COUNTY BANK

> **Failed bank** · CENTRE, AL · failed 1984-06-05 · State commercial bank, non-Federal Reserve member (FDIC-supervised) · FDIC cost $7M

## What happened

CHEROKEE COUNTY BANK of CENTRE, AL was closed by regulators 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
- **Estimated FDIC DIF cost:** $7M
- **Deposits at failure:** $38M
- **Assets at failure:** $39M
- **Acquiring bank:** FIRST ALBANK OF ANNISTON (ANNISTON, AL)

## Primary source

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

## Citation

> US Federal Deposit Insurance Corporation, BankFind failed-bank database, CHEROKEE COUNTY BANK (FDIC ID 885), failed 1984-06-05. Retrieved via AI Analytics 2026-05-16 from https://api.ai-analytics.org/failed-bank/885.

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*[FDIC failures dataset](/datasets/fdic-failures) · CC0 1.0*