Bank failure · TN

First Security Bank (Erwin, TN) — failed April 6, 1984

First Security Bank of Erwin, Tennessee was closed on April 6, 1984 and resolved through a purchase and assumption. Bank of Tennessee (TN) took over its insured deposits. At failure it held $22.5M in assets and $21.3M in deposits. The FDIC's estimated loss on the failure is $6.5M (28.9% of assets).