Nexity

Also in Alabama, Nexity Bank's one branch will reopen as a branch of Birmingham peer AloStar Bank of Commerce.

Largest Failure This Year Is Among Six Banks Shut Joan E. Solsman 2011

The FDIC estimated that the cost of the failures to the Deposit Insurance Fund will be $588.1 million, largely stemming from Superior and, to a lesser extent, Nexity.

Largest Failure This Year Is Among Six Banks Shut Joan E. Solsman 2011

David Long , Nexity's president, declined to comment.

Smaller Lenders Struggle to Survive Robin Sidel 2011

Nexity Financial Corp., whose main subsidiary provides banking services to other banks, is in bankruptcy-protection proceedings.

Smaller Lenders Struggle to Survive Robin Sidel 2011

The Federal Deposit Insurance Corp. said in addition to Superior, Nexity Bank, also based in Birmingham, was closed, the first failures in Alabama this year.

Largest Failure This Year Is Among Six Banks Shut Joan E. Solsman 2011

Alabama's first two bank closures this year included Nexity Bank, also based in Birmingham.

Financial Briefing Book: April 16-17 2011

Nexity had about $793.7 million in total assets and $637.8 in total deposits at the end of last year.

Largest Failure This Year Is Among Six Banks Shut Joan E. Solsman 2011

For the record, nBank belongs to the First National Bank of Commerce, in Commerce, Ga., and Nexity to Nexity Financial Corp., in Birmingham, Ala.

Smart Choices 2008

Regulators closed a second Alabama lender when they shuttered Birmingham-based Nexity Bank and sold its operations to AloStar Bank of Commerce, according to the FDIC.

BusinessWeek.com -- Top News 2011

Nexity, which has recorded eight consecutive quarterly losses, posted $58 million in net losses for the year ended Dec. 31, versus $11.3 million in net losses in 2008, data shows.

Los Angeles Business News - Local Los Angeles News | Los Angeles Business from bizjournals 2010