7 failed banks ยท 2010 to 2011
Failed banks taken over by Bank of the Ozarks
Bank of the Ozarks of Little Rock, Arkansas took over seven failed banks between 2010 and 2011, the seventh-highest count among the 318 acquirers of that period. Together they reported $2.5 billion in assets and $2.3 billion in deposits at closing. The largest was The Park Avenue Bank, at $849 million. The banks were spread over three states, most in Georgia (5). Four of the deals came in 2010. The first was Unity National Bank of Cartersville, on March 26, 2010. The most recent was First Choice Community Bank of Dallas, on April 29, 2011. The FDIC's estimated loss on these failures totals $727 million, a median of 33% of each bank's assets.
| Closed | Bank | Location | Total assets | Est. loss |
|---|---|---|---|---|
| March 26, 2010 | Unity National Bank | Cartersville, GA | $301 million | $73.6 million |
| July 16, 2010 | Woodlands Bank | Bluffton, SC | $383 million | $107 million |
| September 10, 2010 | Horizon Bank | Bradenton, FL | $188 million | $61.3 million |
| December 17, 2010 | Chestatee State Bank | Dawsonville, GA | $244 million | $83.1 million |
| January 14, 2011 | Oglethorpe Bank | Brunswick, GA | $211 million | $84.1 million |
| April 29, 2011 | The Park Avenue Bank | Valdosta, GA | $849 million | $212 million |
| April 29, 2011 | First Choice Community Bank | Dallas, GA | $291 million | $105 million |
The FDIC names the acquirer in each failure record. This page lists what that record shows and says nothing about the acquiring bank today.