Bank failure · GA
Alpha Bank & Trust (Alpharetta, GA) — failed October 24, 2008
Alpha Bank & Trust of Alpharetta, Georgia was closed on October 24, 2008 and resolved through a purchase and assumption (insured deposits). Stearns Bank, NA (MN) took over its insured deposits. At failure it held $354.1M in assets and $344.2M in deposits. The FDIC's estimated loss on the failure is $211.3M (59.7% of assets).
- Closing date
- October 24, 2008
- FDIC certificate #
- 58241
- Resolution
- Purchase and assumption (insured deposits) (failure)
- Acquiring institution
- Stearns Bank, NA
- Insurance fund
- DIF
- Pre-failure filings
- Last reported financials
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