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Bank Failures

Failed Bank Information for Community South Bank, Parsons, TN

On Friday, August 23, 2013, Community South Bank was closed by the Tennessee Department of Financial Institutions. The FDIC was named Receiver. CB&S Bank, Inc., Russellville, AL acquired all deposit accounts, including brokered deposits.

The FDIC as Receiver for Community South Bank, Parsons, TN has taken all actions necessary to terminate the Receivership Estate. The Receiver published a legal notice of intent to terminate the receivership on February 28, 2024 and has made all dividend distributions required by law.

Effective October 1, 2024, the Receiver was discharged and the Receivership Estate was terminated and ceased existence as a legal entity.

Receivership Status: TERMINATED

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Notice of Termination

Effective Date: October 1, 2024

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Notice of Intent to Terminate

Publication Date: February 28, 2024

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Balance Sheet

Report on assets and liabilities

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Dividend Information

Report on dividends paid

Beware of Scams

If you are concerned about becoming a victim of fraud, be advised that you will not receive any communication from the FDIC requesting any private information. Be watchful for and resistant to any scams to obtain information from you by individuals or entities stating they are acting on behalf of Community South Bank, CB&S Bank, Inc., or the FDIC. The FDIC, however, will encourage you to correspond with us via the Failed Bank Customer Service Center (FBCSC), a secure web portal.

TRANSACTION DOCUMENTATION

Purchase & Assumption Agreement
Agreement between FDIC and acquiring institution

Bid Summary
Report on the bids to purchase the failed bank

Frequently Asked Questions
 

BankFind Suite: Find Institutions by Name & Location 
BankFind Suite allows you to locate the failed bank by name or FDIC certificate number.

Last Updated: January 29, 2019