IBERIABANK, a bank with more than 120 years of history, has announced that they will be purchasing CapitalSouth Bank — a failed bank that was based in the state of Alabama. CapitalSouth Bank was shut down by federal regulators on Friday.
On Monday, CapitalSouth Bank’s ten branches will be re-opened as branches of IBERIABANK. One this transaction is complete, IBERIABANK will have branches in ten states and a total of more than 160 branches.
“We are delighted to welcome the clients of CapitalSouth Bank to IBERIABANK,” said IBERIABANK Corporation’s President and CEO Daryl G. Byrd. “Just as we exhibited in our successful …read more

The number of failed banks in the United States in 2009 rose once again when it was announced that BankUnited has been taken over by federal regulators. BankUnited represents the 34th bank to fail in 2009 that was protected by the FDIC.
In total loses by the FDIC, this was the second largest bank failure of the year. Only IndyMac Bank of California has totaled a larger loss. In all, reported indicate that BankUnited will cost the FDIC nearly $5 billion. IndyMac Bank’s failure had a price tag of more than $10 billion.
This failure is unique in that it was sold …read more