COALMONT SAVINGS BANK Failed 1984

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

What happened

COALMONT SAVINGS BANK of COALMONT, TN was closed on 1984-07-24. The FDIC was named receiver.

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

Deposits were transferred to FIRST BANK OF MARION COU (SOUTH PITTSBURG, TN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID
898
FDIC Certificate
10699
FDIC FIN
2401
Bank name
COALMONT SAVINGS BANK
Location
COALMONT, TN
Failure date
1984-07-24
FDIC resolution date
1984-07-24
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.)
$8M
Deposits at failure
$24M
Assets at failure
$26M
Acquiring bank
FIRST BANK OF MARION COU (SOUTH PITTSBURG, TN)