Failed Bank List
The Failed Bank List contains the names of banks that have failed and been closed by regulatory authorities. This list is crucial for compliance professionals, as it helps to identify institutions that pose a risk due to their past failures. Understanding the circumstances around these bank closures can assist in risk assessment and compliance monitoring.
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572 Entities in Failed Bank List
| Entity Name | Entity Type | Effective Date | Status |
|---|---|---|---|
Decatur First Bank | Company | Oct 21, 2011 | active |
NBRS Financial | Company | Oct 17, 2014 | active |
First Commercial Bank of Tampa Bay | Company | Jun 17, 2011 | active |
Southshore Community Bank | Company | Jul 22, 2011 | active |
Bank of the Commonwealth | Company | Sep 23, 2011 | active |
Prosperan Bank | Company | Nov 6, 2009 | active |
American National Bank | Company | Mar 19, 2010 | active |
Alpha Bank Trust | Company | Oct 24, 2008 | active |
Peoples First Community Bank | Company | Dec 18, 2009 | active |
Heritage Community Bank | Company | Feb 27, 2009 | active |
FAQs
Why is compliance with Failed Bank List necessary?
Complying with the Failed Bank List is crucial for several reasons. First, these lists help protect the financial system. When a bank fails, it affects not just the bank's customers but also the entire economy.
Which companies should comply with Failed Bank List?
Companies in the financial services industry, including banks, credit unions, and investment firms, must comply with the Failed Bank List. This compliance is crucial because it helps identify institutions that have failed and guides professionals in managing risks and protecting stakeholders. Adhering to this list enhances transparency and ensures responsible financial practices.
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