Yet another bank with branches in our area is under new management.
Superior Bank which is based in Birmingham, Alabama, was closed last Friday by the Office of Thrift Supervision.
Superior Bank which is based in Birmingham, Alabama, was closed last Friday by the Office of Thrift Supervision.
The bank has 73 branch offices reaching from Birmingham to Tampa with local branches in Carrabelle, Apalachicola and Port St. Joe.
As of December 31st, 2010, Superior Bank had approximately $3.0 billion in total assets and $2.7 billion in total deposits. The deposits and nearly all of the assets were purchased by Community Bancorp LLC out of Houston and the bank is currently operating under the name Superior Bank, N.A.
Currently its business as usual at all 73 Superior Bank branches.
Depositors of Superior Bank automatically became depositors of Superior Bank, N.A.
Deposits are still insured by the FDIC and all checks and ATM and debit cards still work.
Superior Bank is the 32nd FDIC-insured institution to fail in the nation this year, and the second in Alabama.
The FDIC estimates that the cost to the Deposit Insurance Fund will be $259.6 million dollars.
http://www.oysterradio.com e-mail manager@oysterradio.com with comments
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