Data / Bank failures / 1983 / United American Bank in Hamilton County
United American Bank in Hamilton County, Chattanooga, TN: failed May 27, 1983
United American Bank in Hamilton County in Chattanooga, Tennessee, failed on May 27, 1983. Union Planters NB of Mem of Memphis, TN, took over its deposits. It held $133.8 million in assets and $125.2 million in deposits at its last report. The FDIC estimates the cost to its insurance fund at $19.1 million (14.2% of its assets). By assets it was the 24th largest of 99 banks closed or assisted in 1983.
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The FDIC's record
- Closed
- May 27, 1983
- Type
- Failure
- How it was resolved
- Purchase and assumption: another bank took over the deposits
- Acquirer
- Union Planters NB of Mem, Memphis, TN
- Total assets
- $133,834,000
- Total deposits
- $125,232,000
- Estimated cost to the FDIC
- $19,062,220 (estimate as of July 31, 2026)
- Charter
- State nonmember bank (FDIC)
- Insurance fund
- FDIC
- FDIC certificate
- 20332
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 Union Planters NB of Mem took over
| Bank | City | State | Closed | Assets | Deposits | Estimated cost | Acquirer |
|---|---|---|---|---|---|---|---|
| United Southern BK of Nashville | Nashville | TN | May 27, 1983 | $144.2 million | $135.7 million | $37.8 million | Union Planters NB of Mem |
All bank failures in 1983 · All bank failures in Tennessee · Every failed bank Union Planters NB of Mem 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.