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Bank Failures in Brief – 2001

There were 4 bank failures in 2001. See detailed descriptions below.

The graph shows there were 4 bank failures in 2001 - February, May, July and September. Closings in February 2001 Bank Failures in May 2001 Bank Failures in July 2001 Bank Failures in September 2001

Please select the buttons below for other years' information.

2001 Summary by Month
(Approximate asset dollar volume based on figures from the press releases)
Months Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Bank Failures 0 1 0 0 1 0 1 0 1 0 0 0
Total Assets (Millions) 0 18.4 0 0 9.5 0 2,300.0 0 30.7 0 0 0

2001 Bank Failure Details
Bank Name, City, ST Press Release
Closing Date Approx. Asset
Approx. Deposit
Acquirer & Transaction
Sinclair National Bank, Gravette, AR PR-063-2001 September 7, 2001 $30.7 $25.7 Delta Trust and Bank, Parkdale, AR agreed to assume all insured deposits. (BIF**)
Superior Bank, FSB, Hinsdale, IL PR-052-2001 July 27, 2001 $2,300.0 $1,600.0 The Federal Deposit Insurance Corporation today transferred the insured deposits and substantially all the assets of Superior Bank, FSB, Hinsdale, IL, to Superior Federal, FSB (New Superior), a newly chartered, full-service mutual savings bank. The bank was closed earlier today by the Office of Thrift Supervision, and the FDIC was named conservator. (SAIF*)
The Malta National Bank, Malta, OH PR-032-2001 May 3, 2001 $9.5 $8.8 North Valley Bank, Zanesville, OH agreed to assume all deposits. (BIF**)
First Alliance Bank & Trust Company, Manchester, NH PR-011-2001 February 2, 2001 $18.4 $17.5 Southern New Hampshire Bank and Trust Company, Salem, NH agreed to assume all deposits.

*SAIF = Savings Association Insurance Fund **BIF = Bank Insurance Fund

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