Failed Bank List

Closed Friday, May 1, 2009 · Atlanta, Cobb County, Georgia

Silverton Bank, NA

By total assets Silverton Bank, NA is the 48th-largest of the 3,375 bank failures since 1934 for which the FDIC records a size, counted in dollars of the day. No bank took over its deposits: the FDIC paid insured depositors directly. No failed bank in Georgia was larger, of 128 on record there since 1934.

On the books, 2001 to 2009

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$1.5B$3B$4.5B$6B2002200320042005200620072008Closed
Total assets were at their highest of these 32 quarters in the final report, for the first quarter of 2009. In the three years to the first quarter of 2009, its assets grew 112%. Equity capital went from 6.6% of assets in the second quarter of 2001 to 1.2% at the last report. By then 12% of its loans were 90 days or more past due or no longer accruing interest. The deepest annual loss, $146 million, was booked in 2009 in only part of the year.
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$160M−$160M2001: $7.2 million20017.0%2002: $8.5 million20026.9%2003: $11.6 million20037.0%2004: $13.3 million20047.4%2005: $15.5 million20057.7%2006: $17.9 million20068.2%2007: $20.6 million20078.4%2008: −$31.4 million20086.2%2009: −$146 million2009*1.2%
* 2009: January to March only, the last report before closing.

Size against the other 2009 failures

Total assets of the 140 banks that failed in 2009, log scale$10M$100M$1B$10B$100B
Total assets of each 2009 failure, log scale; Silverton Bank in red.

By assets it ranked tenth of the 140 failures in 2009. Across the failures of 2009, the median estimated loss came to 27% of assets. Ranked by estimated loss, it is 62nd of 2,944 failures since 1934. In the size ranking of that year, just above it was Park National Bank of Chicago, Illinois ($4.7 billion, loss 0.1% of assets); just below, Imperial Capital Bank of La Jolla, California ($4.0 billion, loss 6.6% of assets). Every 2009 failure in the explorer.

Two other banks closed that day; the largest was America West Bank of Layton, Utah, at $282 million.

Failures in Georgia

In 2009 regulators closed 25 banks in Georgia; this was the sixth. The previous failure there was American Southern Bank of Kennesaw, on April 24, 2009. The next was Southern Community Bank of Fayetteville, on June 19, 2009. Cobb County has 8 failed banks on FDIC record since 1934. Closest in time: American Southern Bank (2009), ebank (2009), Georgian Bank (2009), Northwest Bank & Trust (2010), Security Exchange Bank (2012).

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, 2009 in red. Every Georgia failure

FDIC certificate 26535 · loss estimate as of July 31, 2026 · How to read this page