Data / Bank failures / 2010 / Imperial Savings and Loan Association
Imperial Savings and Loan Association, Martinsville, VA: failed August 20, 2010
Imperial Savings and Loan Association in Martinsville, Virginia, failed on August 20, 2010. River Community Bank, National Association of Martinsville, VA, took over its deposits. It held $9.4 million in assets and $10.1 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $4.7 million (50.2% of its assets). By assets it was the 156th largest of 157 banks closed or assisted in 2010.
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The FDIC's record
- Closed
- August 20, 2010
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- River Community Bank, National Association, Martinsville, VA
- Total assets
- $9,448,000
- Total deposits
- $10,090,000
- Estimated cost to the FDIC
- $4,745,903 (estimate as of July 31, 2026)
- Charter
- Savings and loan association
- Insurance fund
- DIF
- FDIC certificate
- 31623
Other bank failures in Virginia, 2008 to 2012
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Bank of the Commonwealth | Norfolk | September 23, 2011 | $985.1 million | $901.8 million | $238.7 million | Southern Bank and Trust Company |
| Virginia Business Bank | Richmond | July 29, 2011 | $83.5 million | $73 million | $19.9 million | Xenith Bank |
| Greater Atlantic Bank | Reston | December 4, 2009 | $203.3 million | $179.2 million | $26.6 million | Sonabank |
| Countrywide Bank FSB (assistance) | Alexandria | January 16, 2009 | $117.98 billion | $43.66 billion |
All bank failures in 2010 · All bank failures in Virginia · 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.