Data / Bank failures / 1984 / Cherokee County Bank
Cherokee County Bank, Centre, AL: failed June 5, 1984
Cherokee County Bank in Centre, Alabama, failed on June 5, 1984. First Albank of Anniston of Anniston, AL, took over its deposits. It held $39.4 million in assets and $37.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $7.1 million (18% of its assets). By assets it was the 38th largest of 106 banks closed or assisted in 1984.
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The FDIC's record
- Closed
- June 5, 1984
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- First Albank of Anniston, Anniston, AL
- Total assets
- $39,391,000
- Total deposits
- $37,588,000
- Estimated cost to the FDIC
- $7,084,212 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 9054
Other bank failures in Alabama, 1982 to 1986
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Rainsville Bank | Rainsville | May 9, 1986 | $17.5 million | $16.1 million | $565,811 | Jacobs Bank |
| The Commercial Bank (assistance) | Andalusia | August 16, 1985 | $77.8 million | $76.4 million | The Commercial Bank | |
| The First National Bank of Jacksonville | Jacksonville | July 5, 1985 | $43.3 million | $39.6 million | $9.1 million | Amsouth Bank of Jacksonv |
| First FS&LA of Monroeville (assistance) | Monroeville | December 30, 1983 | $29.8 million | $29.8 million | $2.5 million | Jefferson FS&LA |
| Bank of Hackleburg | Hackleburg | December 13, 1983 | $6.5 million | $6.4 million | $1.8 million | Southtrust BK of Marion |
| Cedar Bluff Bank | Cedar Bluff | November 2, 1982 | $13.7 million | $12.7 million | $1.5 million | Union State Bank |
All bank failures in 1984 · All bank failures in Alabama · 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.