Patriot Bank Minnesota of Forest Lake, MN $32.6 mil cost to FDIC #BankFailFriday

Patriot Bank Minnesota, Forest Lake, Minnesota, was closed today by the Minnesota Department of Commerce, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with First Resource Bank, Savage, Minnesota, to assume all of the deposits of Patriot Bank Minnesota.

The three branches of Patriot Bank Minnesota will reopen on Saturday as branches of First Resource Bank. Depositors of Patriot Bank Minnesota will automatically become depositors of First Resource Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Patriot Bank Minnesota should continue to use their existing branch until they receive notice from First Resource Bank that it has completed systems changes to allow other First Resource Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Patriot Bank Minnesota can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2011, Patriot Bank Minnesota had approximately $111.3 million in total assets and $108.3 million in total deposits. In addition to assuming all of the deposits of the failed bank, First Resource Bank agreed to purchase essentially all of the assets.

The FDIC and First Resource Bank entered into a loss-share transaction on $79.4 million of Patriot Bank Minnesota's assets. First Resource Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers with questions about today's transaction should call the FDIC toll-free at 1-800-450-5417. The phone number will be operational this evening until 9:00 p.m., Central Standard Time (CST); on Saturday from 9:00 a.m. to 6:00 p.m., CST; on Sunday from noon to 6:00 p.m., CST; on Monday from 8 a.m. to 8 p.m., CST; and thereafter from 9:00 a.m. to 5:00 p.m., CST. Interested parties also can visit the FDIC's Web site athttp://www.fdic.gov/bank/individual/failed/patriot-mn.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $32.6 million. Compared to other alternatives, First Resource Bank's acquisition was the least costly resolution for the FDIC's DIF. Patriot Bank Minnesota is the sixth FDIC-insured institution to fail in the nation this year, and the first in Minnesota. The last FDIC-insured institution closed in the state was The Riverbank, Wyoming, Minnesota, on October 7, 2011.

BankEast, Knoxville, TN $75.6 mil cost to FDIC #BankFailFriday

BankEast, Knoxville, Tennessee, was closed today by the Tennessee Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with U.S. Bank National Association, Cincinnati, Ohio, to assume all of the deposits of BankEast.

The ten branches of BankEast will reopen on Monday as branches of U.S. Bank National Association. Depositors of BankEast will automatically become depositors of U.S. Bank National Association. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of BankEast should continue to use their existing branch until they receive notice from U.S. Bank National Association that it has completed systems changes to allow other U.S. Bank National Association branches to process their accounts as well.

This evening and over the weekend, depositors of BankEast can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2011, BankEast had approximately $272.6 million in total assets and $268.8 million in total deposits. In addition to assuming all of the deposits of the failed bank, U.S. Bank National Association agreed to purchase essentially all of the assets.

Customers with questions about today's transaction should call the FDIC toll-free at 1-800-517-1839. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; on Monday from 8 a.m. to 8 p.m., EST; and thereafter from 9:00 a.m. to 5:00 p.m., EST. Interested parties also can visit the FDIC's Web site athttp://www.fdic.gov/bank/individual/failed/bankeast.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $75.6 million. Compared to other alternatives, U.S. Bank National Association's acquisition was the least costly resolution for the FDIC's DIF. BankEast is the seventh FDIC-insured institution to fail in the nation this year, and the second in Tennessee. The last FDIC-insured institution closed in the state was Tennessee Commerce Bank, Franklin, earlier today.

Tennessee Commerce Bank of Franklin, TN $416.8 mil cost to FDIC #BankFailFriday

Tennessee Commerce Bank, Franklin, Tennessee, was closed today by the Tennessee Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Republic Bank & Trust Company, Louisville, Kentucky, to assume all of the deposits of Tennessee Commerce Bank.

The sole branch of Tennessee Commerce Bank will reopen on Monday as a branch of Republic Bank & Trust Company. Depositors of Tennessee Commerce Bank will automatically become depositors of Republic Bank & Trust Company. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Tennessee Commerce Bank should continue to use their existing branch until they receive notice from Republic Bank & Trust Company that it has completed systems changes to allow other Republic Bank & Trust Company branches to process their accounts as well.

This evening and over the weekend, depositors of Tennessee Commerce Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2011, Tennessee Commerce Bank had approximately $1.185 billion in total assets and $1.156 billion in total deposits. In addition to assuming all of the deposits of the failed bank, Republic Bank & Trust Company agreed to purchase approximately $203.9 million of the failed bank's assets. The FDIC will retain most of the assets for later disposition.

Customers with questions about today's transaction should call the FDIC toll-free at 1-800-450-5668. The phone number will be operational this evening until 9:00 p.m., Central Standard Time (CST); on Saturday from 9:00 a.m. to 6:00 p.m., CST; on Sunday from noon to 6:00 p.m., CST; on Monday from 8 a.m. to 8 p.m., CST; and thereafter from 9:00 a.m. to 5:00 p.m., CST. Interested parties also can visit the FDIC's Web site athttp://www.fdic.gov/bank/individual/failed/tcb.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $416.8 million. Compared to other alternatives, Republic Bank & Trust Company's acquisition was the least costly resolution for the FDIC's DIF. Tennessee Commerce Bank is the fifth FDIC-insured institution to fail in the nation this year, and the first in Tennessee. The last FDIC-insured institution closed in the state was Bank of Alamo, Alamo, on November 8, 2002.

First Guaranty Bank and Trust of Jacksonville, FL $82 mil cost to FDIC #BankFailFriday

First Guaranty Bank and Trust Company of Jacksonville, Jacksonville, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with CenterState Bank of Florida, National Association, Winter Haven, Florida, to assume all of the deposits of First Guaranty Bank and Trust Company of Jacksonville.

The eight branches of First Guaranty Bank and Trust Company of Jacksonville will reopen on Monday as branches of CenterState Bank of Florida, National Association. Depositors of First Guaranty Bank and Trust Company of Jacksonville will automatically become depositors of CenterState Bank of Florida, National Association. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of First Guaranty Bank and Trust Company of Jacksonville should continue to use their existing branch until they receive notice from CenterState Bank of Florida, National Association that it has completed systems changes to allow other CenterState Bank of Florida, National Association branches to process their accounts as well.

This evening and over the weekend, depositors of First Guaranty Bank and Trust Company of Jacksonville can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2011, First Guaranty Bank and Trust Company of Jacksonville had approximately $377.9 million in total assets and $349.5 million in total deposits. In addition to assuming all of the deposits of the failed bank, CenterState Bank of Florida, National Association agreed to purchase essentially all of the assets.

The FDIC and CenterState Bank of Florida, National Association entered into a loss-share transaction on $292.9 million of First Guaranty Bank and Trust Company of Jacksonville's assets. CenterState Bank of Florida, National Association will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers with questions about today's transaction should call the FDIC toll-free at 1-800-508-8289. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; on Monday from 8 a.m. to 8 p.m., EST; and thereafter from 9:00 a.m. to 5:00 p.m., EST. Interested parties also can visit the FDIC's Web site athttp://www.fdic.gov/bank/individual/failed/fgbtcj.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $82.0 million. Compared to other alternatives, CenterState Bank of Florida, National Association's acquisition was the least costly resolution for the FDIC's DIF. First Guaranty Bank and Trust Company of Jacksonville is the fourth FDIC-insured institution to fail in the nation this year, and the second in Florida. The last FDIC-insured institution closed in the state was Central Florida State Bank, Belleview, on January 20, 2012.

American Eagle Savings Bank, Boothwyn, PA $3.2 mil cost to FDIC #BankFailFriday

American Eagle Savings Bank, Boothwyn, Pennsylvania, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Capital Bank, National Association, Rockville, Maryland, to assume all of the deposits of American Eagle Savings Bank.

The sole branch of American Eagle Savings Bank will reopen on Saturday as a branch of Capital Bank, National Association. Depositors of American Eagle Savings Bank will automatically become depositors of Capital Bank, National Association. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of American Eagle Savings Bank should continue to use their existing branch until they receive notice from Capital Bank, National Association that it has completed systems changes to allow other Capital Bank, National Association branches to process their accounts as well.

This evening and over the weekend, depositors of American Eagle Savings Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2011, American Eagle Savings Bank had approximately $19.6 million in total assets and $17.7 million in total deposits. In addition to assuming all of the deposits of the failed bank, Capital Bank, National Association agreed to purchase essentially all of the assets.

Customers with questions about today's transaction should call the FDIC toll-free at 1-800-355-0814. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; on Monday from 8 a.m. to 8 p.m., EST; and thereafter from 9:00 a.m. to 5:00 p.m., EST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/americaneagle.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3.2 million. Compared to other alternatives, Capital Bank, National Association's acquisition was the least costly resolution for the FDIC's DIF. American Eagle Savings Bank is the third FDIC-insured institution to fail in the nation this year, and the first in Pennsylvania. The last FDIC-insured institution closed in the state was Public Savings Bank, Huntingdon Valley, on August 18, 2011.

The First State Bank, Stockbridge GA $216.2 mil cost to FDIC #BankFailFriday

The First State Bank, Stockbridge, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Hamilton State Bank, Hoschton, Georgia, to assume all of the deposits of The First State Bank.

The seven branches of The First State Bank will reopen during their normal business hours beginning Saturday as branches of Hamilton State Bank. Depositors of The First State Bank will automatically become depositors of Hamilton State Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of The First State Bank should continue to use their existing branch until they receive notice from Hamilton State Bank that it has completed systems changes to allow other Hamilton State Bank branches to process their accounts as well.

This evening and over the weekend, depositors of The First State Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2011, The First State Bank had approximately $536.9 million in total assets and $527.5 million in total deposits. Hamilton State Bank will pay the FDIC a premium of 0.50 percent to assume all of the deposits of The First State Bank. In addition to assuming all of the deposits of the failed bank, Hamilton State Bank agreed to purchase essentially all of the assets.

The FDIC and Hamilton State Bank entered into a loss-share transaction on $419.5 million of The First State Bank's assets. Hamilton State Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers with questions about today's transaction should call the FDIC toll-free at 1-800-405-8251. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; on Monday from 8 a.m. to 8 p.m., EST; and thereafter from 9:00 a.m. to 5:00 p.m., EST. Interested parties also can visit the FDIC's Web site athttp://www.fdic.gov/bank/individual/failed/firststatebank-ga.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $216.2 million. Compared to other alternatives, Hamilton State Bank's acquisition was the least costly resolution for the FDIC's DIF. The First State Bank is the second FDIC-insured institution to fail in the nation this year, and the first in Georgia. The last FDIC-insured institution closed in the state was Community Bank of Rockmart, Rockmart, on November 10, 2011.

UPDATED: Central Florida State Bank of FL, $24.4 mil cost to FDIC #BankFailFriday

Central Florida State Bank, Belleview, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with CenterState Bank of Florida, National Association, Winter Haven, Florida, to assume all of the deposits of Central Florida State Bank.

The four branches of Central Florida State Bank will reopen on Monday as branches of CenterState Bank of Florida, National Association. Depositors of Central Florida State Bank will automatically become depositors of CenterState Bank of Florida, National Association. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Central Florida State Bank should continue to use their existing branch until they receive notice from CenterState Bank of Florida, National Association that it has completed systems changes to allow other CenterState Bank of Florida, National Association branches to process their accounts as well.

This evening and over the weekend, depositors of Central Florida State Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2011, Central Florida State Bank had approximately $79.1 million in total assets and $77.7 million in total deposits. In addition to assuming all of the deposits of the failed bank, CenterState Bank of Florida, National Association agreed to purchase essentially all of the assets.

The FDIC and CenterState Bank of Florida, National Association entered into a loss-share transaction on $53.6 million of Central Florida State Bank's assets. CenterState Bank of Florida, National Association will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers with questions about today's transaction should call the FDIC toll-free at 1-800-405-8028. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; on Monday from 8 a.m. to 8 p.m., EST; and thereafter from 9:00 a.m. to 5:00 p.m., EST. Interested parties also can visit the FDIC's Web site athttp://www.fdic.gov/bank/individual/failed/cfsb.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $24.4 million. Compared to other alternatives, CenterState Bank of Florida, National Association's acquisition was the least costly resolution for the FDIC's DIF. Central Florida State Bank is the first FDIC-insured institution to fail in the nation this year, and the first in Florida. The last FDIC-insured institution closed in the state was Premier Community Bank of the Emerald Coast, Crestview, on December 16, 2011.

All American Bank, Des Plaines, IL $6.5 mil cost to FDIC #BankFailFriday

International Bank of Chicago, Chicago, Illinois, Assumes All of the
Deposits of All American Bank, Des Plaines, Illinois

All American Bank, Des Plaines, Illinois, was closed today by the
Illinois Department of Financial and Professional Regulation –
Division of Banking, which appointed the Federal Deposit Insurance
Corporation (FDIC) as receiver. To protect the depositors, the FDIC
entered into a purchase and assumption agreement with International
Bank of Chicago, Chicago, Illinois, to assume all of the deposits of
All American Bank.

The sole branch of All American Bank will reopen during normal
business hours as a branch of International Bank of Chicago.
Depositors of All American Bank will automatically become depositors
of International Bank of Chicago. Deposits will continue to be insured
by the FDIC, so there is no need for customers to change their banking
relationship in order to retain their deposit insurance coverage up to
applicable limits. Customers of All American Bank should continue to
use their existing branch until they receive notice from International
Bank of Chicago that it has completed systems changes to allow other
International Bank of Chicago branches to process their accounts as
well.

This evening and over the weekend, depositors of All American Bank can
access their money by writing checks or using ATM or debit cards.
Checks drawn on the bank will continue to be processed. Loan customers
should continue to make their payments as usual.

As of June 30, 2011, All American Bank had approximately $37.8 million
in total assets and $33.4 million in total deposits. In addition to
assuming all of the deposits, International Bank of Chicago agreed to
purchase essentially all of the failed bank's assets.

Customers with questions about today's transaction should call the
FDIC toll-free at 1-800-350-2746. The phone number will be operational
this evening until 9:00 p.m., Central Daylight Time (CDT); on Saturday
from 9:00 a.m. to 6:00 p.m., CDT; on Sunday from noon to 6:00 p.m.,
CDT; on Monday from 8:00 a.m. to 8:00 p.m., CDT; and thereafter from
9:00 a.m. to 5:00 p.m., CDT. Interested parties also can visit the
FDIC's Web site at
http://www.fdic.gov/bank/individual/failed/allamerican.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF)
will be $6.5 million. Compared to other alternatives, International
Bank of Chicago's acquisition was the least costly resolution for the
FDIC's DIF. All American Bank is the 85th FDIC-insured institution to
fail in the nation this year, and the ninth in Illinois. The last
FDIC-insured institution closed in the state was Country Bank, Aledo,
on October 14, 2011.

Country Bank, Aledo, IL $66.3 mil cost to FDIC #BankFailFriday

Blackhawk Bank & Trust, Milan, Illinois, Assumes All of the Deposits of Country Bank, Aledo, Illinois

Country Bank, Aledo, Illinois, was closed today by the Illinois Department of Financial and Professional Regulation – Division of Banking, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Blackhawk Bank & Trust, Milan, Illinois, to assume all of the deposits of Country Bank.

The two branches of Country Bank will reopen on Saturday as branches of Blackhawk Bank & Trust. Depositors of Country Bank will automatically become depositors of Blackhawk Bank & Trust. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Country Bank should continue to use their existing branch until they receive notice from Blackhawk Bank & Trust that it has completed systems changes to allow other Blackhawk Bank & Trust branches to process their accounts as well.

This evening and over the weekend, depositors of Country Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of June 30, 2011, Country Bank had approximately $190.6 million in total assets and $167.5 million in total deposits. In addition to assuming all of the deposits, Blackhawk Bank & Trust agreed to purchase approximately $113.3 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.

Customers with questions about today's transaction should call the FDIC toll-free at 1-800-591-2916. The phone number will be operational this evening until 9:00 p.m., Central Daylight Time (CDT); on Saturday from 9:00 a.m. to 6:00 p.m., CDT; on Sunday from noon to 6:00 p.m., CDT; and thereafter from 8:00 a.m. to 8:00 p.m., CDT. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/countrybank.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $66.3 million. Compared to other alternatives, Blackhawk Bank & Trust's acquisition was the least costly resolution for the FDIC's DIF. Country Bank is the 80th FDIC-insured institution to fail in the nation this year, and the eighth in Illinois. The last FDIC-insured institution closed in the state was First Choice Bank, Geneva, on August 19, 2011.

First State Bank, Cranford, NJ $45.8 million cost to FDIC #BankFailFriday

Northfield Bank, Staten Island, New York, Assumes All of the Deposits of First State Bank, Cranford, New Jersey

First State Bank, Cranford, New Jersey, was closed today by the New Jersey Department of Banking and Insurance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Northfield Bank, Staten Island, New York, to assume all of the deposits of First State Bank.

The two branches of First State Bank will reopen on Saturday as branches of Northfield Bank. Depositors of First State Bank will automatically become depositors of Northfield Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of First State Bank should continue to use their existing branch until they receive notice from Northfield Bank that it has completed systems changes to allow other Northfield Bank branches to process their accounts as well.

This evening and over the weekend, depositors of First State Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of June 30, 2011, First State Bank had approximately $204.4 million in total assets and $201.2 million in total deposits. In addition to assuming all of the deposits of the failed bank, Northfield Bank agreed to purchase essentially all of the assets.

Customers with questions about today's transaction should call the FDIC toll-free at 1-800-613-0378. The phone number will be operational this evening until 9:00 p.m., Eastern Daylight Time (EDT); on Saturday from 9:00 a.m. to 6:00 p.m., EDT; on Sunday from noon to 6:00 p.m., EDT; and thereafter from 8:00 a.m. to 8:00 p.m., EDT. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/firststatebank-nj.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $45.8 million. Compared to other alternatives, Northfield Bank's acquisition was the least costly resolution for the FDIC's DIF. First State Bank is the 79th FDIC-insured institution to fail in the nation this year, and the first in New Jersey. The last FDIC-insured institution closed in the state was ISN Bank, Cherry Hill, on September 17, 2010.