Bank failure · AL

Cherokee County Bank (Centre, AL) — failed June 5, 1984

Cherokee County Bank of Centre, Alabama was closed on June 5, 1984 and resolved through a purchase and assumption. First Albank of Anniston (AL) took over its insured deposits. At failure it held $39.4M in assets and $37.6M in deposits. The FDIC's estimated loss on the failure is $7.1M (18.0% of assets).