The Graveyard › Banks › 2009
New South Federal Savings Bank
Irondale, AL · failed December 18, 2009 · FDIC certificate 32276
New South Federal Savings Bank of Irondale, AL failed on December 18, 2009. It opened on January 24, 1985, 24 years before. At its last report before that it held $1.5 billion in assets and $1.2 billion in deposits. At its largest in the FDIC's quarterly reports, on March 31, 2008, it held $2.0 billion. The FDIC estimates that the Deposit Insurance Fund lost $311.6 million on it.
1985-062009-09
Assets at the end$1.5 billionlast report before December 18, 2009
Deposits at the end$1.2 billion
Estimated loss to the fund$311.6 millionDIF
Largest in the quarterly reports$2.0 billionMarch 31, 2008
Equity to assets0.2%September 30, 2009
Loans not being repaid17.8%noncurrent, September 30, 2009
Return on assets-8.40%a year's rate, September 30, 2009
Staff381full time, September 30, 2009
Also ended in 2009
- Bank of America N.A. · Charlotte · $1.47 trillion in assets · assisted
- FIA Card Services N.A. · Wilmington · $159.6 billion in assets · assisted
- Countrywide Bank, FSB · Alexandria · $118.0 billion in assets · assisted
- Merrill Lynch Bank USA · Salt Lake City · $61.8 billion in assets · assisted
- Merrill Lynch Bank & Trust Co., FSB · New York · $38.0 billion in assets · assisted
- Bank of America Rhode Island N.A. · Providence · $35.4 billion in assets · assisted
History, not advice.
Source: Federal Deposit Insurance Corporation, BankFind Suite API. Source values and institutional identifiers are retained; formatting and normalization by Underfolio. No FDIC endorsement is implied. How these numbers are made · Report a data issue.