Failed Bank List

Closed Friday, December 4, 2009 · Atlanta, Fulton County, Georgia

The Buckhead Community Bank

In the three years to the first quarter of 2009, The Buckhead Community Bank's assets grew 135%. It was the largest of two banks handed to State Bank and Trust Company together on the day it closed. In 2009 regulators closed 25 banks in Georgia; this was the 22nd.

On the books, 2001 to 2009

Total assets and equity capital each quarter before closing, and the estimated lossTotal assetsEquity capitalEstimated loss$0$250M$500M$750M$1B20022003200420052006200720082009Closed
Total assets peaked at $973 million and were 12% lower at the final report. Equity capital went from 8.9% of assets in the fourth quarter of 2001 to 1.0% at the last report. By then 23% of its loans were 90 days or more past due or no longer accruing interest. The deepest annual loss, $59.8 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$60M−$60M2001: $350 thousand20018.9%2002: $773 thousand200210%2003: $1.3 million20038.5%2004: $2.1 million20048.8%2005: $3.5 million20058.5%2006: $5.6 million20067.9%2007: $4.4 million200712%2008: −$35.8 million20087.4%2009: −$59.8 million2009*1.0%
* 2009: January to September 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; The Buckhead Community Bank in red.

By assets it ranked 33rd of the 140 failures in 2009. Within Georgia it ranks 12th by size of the 128 failures recorded since 1934. Across the failures of 2009, the median estimated loss came to 27% of assets. Ranked by estimated loss, it is 123rd of 2,944 failures since 1934. In the size ranking of that year, just above it was Founders Bank of Worth, Illinois ($889 million, loss 15% of assets); just below, 1st Centennial Bank of Redlands, California ($798 million, loss 17% of assets). Every 2009 failure in the explorer.

Closed together

With The Buckhead Community Bank, the group reported $984 million in assets, and the FDIC's estimated loss on all two is $345 million. They have no separate pages here.

The other banks in the same transaction
BankLocationTotal assetsEst. lossFounded
First Security National BankNorcross, GA$127 million$34.3 million1985

Regulators closed six banks that day. The largest of the others outside this group was AmTrust Bank of Cleveland, Ohio, at $11.4 billion.

Failures in Georgia

The previous failure there was United Security Bank of Sparta, on November 6, 2009. The next was RockBridge Commercial Bank of Atlanta, on December 18, 2009. Fulton County has 18 failed banks on FDIC record since 1934. Closest in time: Omni National Bank (2009), Security Bank of North Fulton (2009), RockBridge Commercial Bank (2009), Century Security Bank (2010), United Americas Bank, N.A. (2010).

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

The acquiring bank

State Bank and Trust Company of Pinehurst, Georgia took over twelve failed banks between 2000 and 2026. Apart from the banks closed together with this one, the others:

All 12 banks it took over.

  • Security Bank of Bibb CountyMacon, GA · July 24, 2009
  • Security Bank of Jones CountyGray, GA · July 24, 2009
  • Security Bank of Houston CountyPerry, GA · July 24, 2009
  • Security Bank of Gwinnett CountySuwanee, GA · July 24, 2009
  • Security Bank of North FultonAlpharetta, GA · July 24, 2009
  • Security Bank of North MetroWoodstock, GA · July 24, 2009
  • Northwest Bank & TrustAcworth, GA · July 30, 2010
  • United Americas Bank, N.A.Atlanta, GA · December 17, 2010
  • Piedmont Community BankGray, GA · October 14, 2011
  • Community Capital BankJonesboro, GA · October 21, 2011

FDIC certificate 34663 · loss estimate as of July 31, 2026 · How to read this page