35 failures since 1934 · $3.6 billion estimated loss
Bank failures in Alabama
Alabama has 35 bank failures on FDIC record since 1934, 1.0% of the national total and the 29th-highest count of any state or territory. The worst year was 1989, with 5. Since 2000 there have been 7; the most recent was Alabama Trust Bank, National Association on May 18, 2012. The largest by assets was Colonial Bank of Montgomery, with $25.5 billion, in 2009.
| Closed | Bank | Location | Total assets | Est. loss |
|---|---|---|---|---|
| May 18, 2012 | Alabama Trust Bank, National Association | Sylacauga, AL | $51.6 million | $10.7 million |
| April 15, 2011 | Nexity Bank | Birmingham, AL | $758 million | $182 million |
| April 15, 2011 | Superior Bank | Birmingham, AL | $3.0 billion | $281 million |
| March 19, 2010 | First Lowndes Bank | Fort Deposit, AL | $137 million | $11.7 million |
| December 18, 2009 | New South Federal Savings Bank | Irondale, AL | $1.5 billion | $312 million |
| August 21, 2009 | CapitalSouth Bank | Birmingham, AL | $587 million | $126 million |
| August 14, 2009 | Colonial Bank | Montgomery, AL | $25.5 billion | $2.4 billion |
| Closed | Bank | Location | Total assets | Est. loss |
|---|---|---|---|---|
| August 21, 1992 | Birmingham Federal Savings and Loan Association | Birmingham, AL | $91.8 million | $3.4 million |
| July 24, 1992 | First Federal Savings and Loan Association of Russell Co | Phenix City, AL | $87.0 million | $390 thousand |
| May 17, 1991 | Altus Bank, A FSB | Mobile, AL | $2.0 billion | $71.2 million |
| March 8, 1991 | Jefferson Federal Savings and Loan Association of Birmingham | Birmingham, AL | $666 million | $17.5 million |
| December 28, 1990 | First Federal Savings and Loan Association | Andalusia, AL | $38.7 million | $6.3 million |
| November 30, 1990 | Tuskegee Federal Savings and Loan Association | Tuskegee, AL | $31.8 million | $15.3 million |
| March 30, 1989 | Baldwin County Federal Savings Bank | Robertsdale, AL | $171 million | $7.3 million |
| March 30, 1989 | City Federal Savings and Loan Association | Birmingham, AL | $712 million | $53.3 million |
| March 9, 1989 | First Savings Bank of Alabama, FA | Hamilton, AL | $26.0 million | $1.9 million |
| March 9, 1989 | Phenix Federal Savings and Loan Association, FA | Phenix City, AL | $150 million | $69.9 million |
| February 17, 1989 | Guaranty Federal Savings and Loan Association | Birmingham, AL | $381 million | $55.9 million |
| September 18, 1987 | Phenix Federal Savings and Loan Association | Phenix City, AL | $226 million | not estimated |
| April 22, 1987 | The Peoples Bank | Collinsville, AL | $11.9 million | $934 thousand |
| February 19, 1987 | First State Bank of Atmore | Atmore, AL | $12.4 million | none |
| May 9, 1986 | Rainsville Bank | Rainsville, AL | $17.5 million | $566 thousand |
| July 5, 1985 | The First National Bank of Jacksonville | Jacksonville, AL | $43.3 million | $9.1 million |
| June 5, 1984 | Cherokee County Bank | Centre, AL | $39.4 million | $7.1 million |
| December 13, 1983 | Bank of Hackleburg | Hackleburg, AL | $6.5 million | $1.8 million |
| November 2, 1982 | Cedar Bluff Bank | Cedar Bluff, AL | $13.7 million | $1.5 million |
| December 31, 1980 | East Gadsden Bank | Gadsden, AL | $44.0 million | $957 thousand |
| June 14, 1979 | Southern National Bank | Birmingham, AL | $32.6 million | not estimated |
| July 21, 1978 | Watkins Banking Company | Faunsdale, AL | $1.7 million | not estimated |
| March 1, 1978 | Wilcox County Bank | Camden, AL | $12.7 million | not estimated |
| January 26, 1978 | First Bank of Macon County | Notasulga, AL | $4.5 million | not estimated |
| January 31, 1967 | Bank of Pine Apple | Pine Apple, AL | $4.3 million | not estimated |
| January 21, 1952 | Thomasville Bank and Trust Co. | Thomasville, AL | $1.0 million | not estimated |
| November 26, 1938 | The Bank of Cuba | Cuba, AL | $89 thousand | not estimated |
| August 12, 1937 | The First National Bank of Albertville | Albertville, AL | not reported | not estimated |