Failed Bank List

Closed Friday, March 19, 2010 · Duluth, Fulton County, Georgia

Century Security Bank

Century Security Bank failed four years after it opened in 2006. In the three years to the fourth quarter of 2008, its assets grew 486%. In 2010 regulators closed 21 banks in Georgia; this was the fifth.

On the books, 2006 to 2009

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$30M$60M$90M$120M200720082009Closed
Total assets peaked at $117 million and were 18% lower at the final report. Equity capital went from 72% of assets in the first quarter of 2006 to 2.4% at the last report. By then 12% of its loans were 90 days or more past due or no longer accruing interest. It lost money in every one of the four reporting years on file before it closed. The deepest annual loss, $5.2 million, was booked in 2009.
Net income in each reporting year before closing, with equity capital as a share of assets at year endNet income per yearEquity to assets at year end−$6M2006: −$1.4 million200637%2007: −$1.7 million200713%2008: −$4.9 million20086.3%2009: −$5.2 million20092.4%

Size against the other 2010 failures

Total assets of the 157 banks that failed in 2010, log scale$1M$10M$100M$1B$10B$100B
Total assets of each 2010 failure, log scale; Century Security Bank in red.

By assets it ranked 124th of the 157 failures in 2010. Within Georgia it ranks 94th by size of the 128 failures recorded since 1934. Across the failures of 2010, the median estimated loss came to 21% of assets. In the size ranking of that year, just above it was Mainstreet Savings Bank, FSB of Hastings, Michigan ($96.6 million, loss 13% of assets); just below, Progress Bank of Florida of Tampa, Florida ($94.8 million, loss 36% of assets). Every 2010 failure in the explorer.

Regulators closed seven banks that day. The largest of the others was Advanta Bank Corp. of Draper, Utah, at $1.5 billion.

Failures in Georgia

The previous failure there was First National Bank of Georgia of Carrollton, on January 29, 2010. The next was McIntosh Commercial Bank of Carrollton, on March 26, 2010. Fulton County has 18 failed banks on FDIC record since 1934. Closest in time: Security Bank of North Fulton (2009), The Buckhead Community Bank (2009), RockBridge Commercial Bank (2009), United Americas Bank, N.A. (2010), American Trust Bank (2011).

Bank failures in Georgia per year, 1980 to 2026081624321981: 11989: 61990: 21991: 71992: 42000: 12002: 12007: 12008: 52009: 252010: 212011: 232012: 102013: 32014: 12015: 22016: 12026: 119801990200020102020
Per year since 1980, 2010 in red. Every Georgia failure

FDIC certificate 58104 · loss estimate as of July 31, 2026 · How to read this page