Data / Bank failures / 2012 / Convenant Bank & Trust
Convenant Bank & Trust, Rock Spring, GA: failed March 23, 2012
Convenant Bank & Trust in Rock Spring, Georgia, failed on March 23, 2012. Stearns Bank, National Association of St.cloud, MN, took over its deposits. It held $95.7 million in assets and $90.6 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $30.3 million (31.6% of its assets). By assets it was the 37th largest of 51 banks closed or assisted in 2012.
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The FDIC's record
- Closed
- March 23, 2012
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Stearns Bank, National Association, St.cloud, MN
- Total assets
- $95,725,000
- Total deposits
- $90,632,000
- Estimated cost to the FDIC
- $30,278,665 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- DIF
- FDIC certificate
- 58068
Other bank failures in Georgia, 2010 to 2014
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Eastside Commercial Bank | Conyers | July 18, 2014 | $173.9 million | $166.9 million | $38.3 million | Community & Southern Bank |
| Sunrise Bank | Valdosta | May 10, 2013 | $60.8 million | $57.8 million | $16 million | Synovus Bank |
| Douglas County Bank | Douglasville | April 26, 2013 | $317.3 million | $315.3 million | $89.6 million | Hamilton State Bank |
| Frontier Bank | Lagrange | March 8, 2013 | $258.8 million | $224.1 million | $73.4 million | Heritage Bank of the South |
| Hometown Communitybank | Braselton | November 16, 2012 | $124.6 million | $108.9 million | $39.7 million | Certusbank, National Association |
| Jasper Banking Company | Jasper | July 27, 2012 | $206.7 million | $204.2 million | $49.2 million | Stearns Bank National Association |
| Georgia Trust Bank | Buford | July 20, 2012 | $116.9 million | $114.7 million | $25.3 million | Community & Southern Bank |
| First Cherokee State Bank | Woodstock | July 20, 2012 | $209 million | $182.1 million | $36.2 million | Community & Southern Bank |
Other failed banks Stearns Bank, National Association took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Copper Star Bank | Scottsdale | AZ | November 12, 2010 | $204 million | $190.2 million | $52.6 million | Stearns Bank, National Association |
| First State Bank | Sarasota | FL | August 7, 2009 | $447.7 million | $394.7 million | $119.5 million | Stearns Bank, National Association |
| Community National Bank of Sarasota County | Venice | FL | August 7, 2009 | $92.5 million | $92.4 million | $25.4 million | Stearns Bank, National Association |
| Horizon Bank | Pine City | MN | June 26, 2009 | $84.8 million | $69.3 million | $24 million | Stearns Bank, National Association |
All bank failures in 2012 · All bank failures in Georgia · Every failed bank Stearns Bank, National Association took over · The full failed bank list
Read from the FDIC's failures data (BankFind), last updated 2026-10-24. 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.