Data / Bank failures / 1983 / Smith County Bank
Smith County Bank, Carthage, TN: failed May 6, 1983
Smith County Bank in Carthage, Tennessee, failed on May 6, 1983. Murfreesboro BANK&TRUST of Murfreesboro, TN, took over its deposits. It held $33 million in assets and $30.9 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $4.7 million (14.2% of its assets). By assets it was the 63rd largest of 99 banks closed or assisted in 1983.
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The FDIC's record
- Closed
- May 6, 1983
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Murfreesboro BANK&TRUST, Murfreesboro, TN
- Total assets
- $32,985,000
- Total deposits
- $30,898,000
- Estimated cost to the FDIC
- $4,671,358 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 1483
Other bank failures in Tennessee, 1981 to 1985
| Bank | City | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|
| Security Trust S&LA (assistance) | Oakridge | October 28, 1985 | $28.8 million | $27.2 million | $10.4 million | Security SLA |
| First Security Bank of Dickson | Dickson | September 12, 1985 | $14.8 million | $14.3 million | $1.8 million | Peoples Bank |
| The Bank of Loretto | Loretto | September 4, 1985 | $25.6 million | $24.8 million | $3.9 million | First FARMERS&MERCHANTS |
| First Bank & Trust | Tracy City | June 28, 1985 | $21.1 million | $19.7 million | $2.9 million | First NB of Shelbyville |
| Magnolia FS&LA | Knoxville | June 7, 1985 | $4.8 million | $3.6 million | $1.5 million | |
| Community FS&LA | Nashville | June 7, 1985 | $22.7 million | $18.8 million | $3.6 million | |
| Peoples Bank & Trust Co. | Wartburg | February 8, 1985 | $24.4 million | $23.1 million | $6.3 million | Citizens BANK&TRUST Co |
| Citizens Fidelity Bank | Bristol | February 1, 1985 | $18.2 million | $17.6 million | $4.1 million | Energy Bank |
Other failed banks Murfreesboro BANK&TRUST took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| Warren County Bank | McMinniville | TN | September 16, 1983 | $19.6 million | $18.7 million | $8.8 million | Murfreesboro BANK&TRUST |
All bank failures in 1983 · All bank failures in Tennessee · Every failed bank Murfreesboro BANK&TRUST 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.