Data / Bank failures / 2009 / Capitalsouth Bank
Capitalsouth Bank, Birmingham, AL: failed August 21, 2009
Capitalsouth Bank in Birmingham, Alabama, failed on August 21, 2009. Iberiabank of Lafayette, LA, took over its deposits. It held $586.6 million in assets and $539.4 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $126.3 million (21.5% of its assets). By assets it was the 47th largest of 148 banks closed or assisted in 2009.
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The FDIC's record
- Closed
- August 21, 2009
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Iberiabank, Lafayette, LA
- Total assets
- $586,586,000
- Total deposits
- $539,422,000
- Estimated cost to the FDIC
- $126,332,097 (estimate as of July 31, 2026)
- Charter
- State member bank (Federal Reserve)
- Insurance fund
- DIF
- FDIC certificate
- 22130
Other bank failures in Alabama, 2007 to 2011
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Nexity Bank | Birmingham | April 15, 2011 | $757.6 million | $611.7 million | $182 million | Alostar Bank of Commerce |
| Superior Bank | Birmingham | April 15, 2011 | $2.98 billion | $2.74 billion | $281.2 million | Superior Bank, N.A. |
| First Lowndes Bank | Fort Deposit | March 19, 2010 | $137.2 million | $131.1 million | $11.7 million | First Citizens Bank |
| New South Federal Savings Bank | Irondale | December 18, 2009 | $1.46 billion | $1.16 billion | $311.6 million | Beal Bank |
| Colonial Bank | Montgomery | August 14, 2009 | $25.46 billion | $20.07 billion | $2.37 billion | BB&T |
Other failed banks Iberiabank took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Sterling Bank | Lantana | FL | July 23, 2010 | $355 million | $329.5 million | $41.8 million | Iberiabank |
| Century Bank, A Federal Savings Bank | Sarasota | FL | November 13, 2009 | $755.9 million | $659.7 million | $306.9 million | Iberiabank |
| Orion Bank | Naples | FL | November 13, 2009 | $2.61 billion | $2.17 billion | $713.1 million | Iberiabank |
All bank failures in 2009 · All bank failures in Alabama · Every failed bank Iberiabank took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-23. Assets and deposits are as of the last report before failure; the estimated cost is the FDIC's latest estimate of the loss to its insurance fund and changes as the receivership winds down. Free to reuse with credit to SpecStream under CC BY 4.0.