Superior Bancorp was a bank holding company for Superior Bank, headquartered in Birmingham, Alabama.
In April 2011, it suffered from bank failure and its assets were acquired by an affiliate of Cadence Bank.
[1] On April 15, 2011, Superior Bank suffered from bank failure and its assets were acquired by an affiliate of Cadence Bank in a transaction facilitated by the Federal Deposit Insurance Corporation (FDIC).
[2] The bank failure cost the FDIC more than $530 million.
In 2014, the FDIC sued former executives of the Florida division of the bank, claiming they took “unreasonable financial risks” in making unsafe loans.