#BankFailFriday January 2011 Recap - 11 banks closed for the month/year. Read more at
Eleven banks closed in the month of January. The list below is in reverse chronological order.
- First Community Bank, Taos, NM with approximately $2.31 billion in total assets and $1.94 billion in total deposits was closed. U.S. Bank, N.A, Minneapolis, MN has agreed to assume all deposits excluding the Cede & Co. deposits.
- FirsTier Bank, Louisville, CO with approximately $781.5 million in total assets and $722.8 million in total deposits was closed. To protect the insured depositors, the FDIC created Deposit Insurance National Bank of Louisville - a new depository institution chartered by the Office of Thrift Supervision (OTS), which will remain open until February 28, 2011.
- Evergreen State Bank, Stoughton, WI with approximately $246.5 million in total assets and $195.2 million in total deposits was closed. McFarland State Bank, McFarland, WI has agreed to assume all deposits excluding the Cede & Co. deposits.
- The First State Bank, Camargo, OK with approximately $43.5 million in total assets and $40.3 million in total deposits was closed. Bank 7, Oklahoma City, OK has agreed to assume all deposits excluding the Cede & Co. deposits.
- United Western Bank, Denver, CO with approximately $2.05 billion in total assets and $1.65 billion in total deposits was closed. First-Citizens Bank & Trust Co., Raleigh, NC has agreed to assume all deposits.
- The Bank of Asheville, Asheville, NC with approximately $195.1 million in total assets and $188.3 million in total deposits was closed. First Bank, Troy, NC has agreed to assume all deposits.
- CommunitySouth Bank & Trust, Easley, SC with approximately $440.6 million in total assets and $402.4 million in total deposits was closed. CertusBank, N.A., Charlotte, NC has agreed to assume all deposits excluding the Cede & Co. deposits.
- Enterprise Banking Company, McDonough, GA with approximately $100.9 million in total assets and $95.5 million in total deposits was closed. To protect the insured depositors, the FDIC created Deposit Insurance National Bank of McDonough - a new depository institution chartered by the Office of Thrift Supervision (OTS), which will remain open until January 28, 2011.
- Oglethorpe Bank, Brunswick, GA with approximately $230.6 million in total assets and $212.7 million in total deposits was closed. Bank of the Ozarks, Little Rock, AR has agreed to assume all deposits excluding the Cede & Co. deposits.
- Legacy Bank, Scottsdale, AZ with approximately $150.6 million in total assets and $125.9 million in total deposits was closed. Enterprise Bank & Trust, Clayton, MO has agreed to assume all deposits.
- First Commercial Bank of Florida, Orlando, FL with approximately $598.5 million in total assets and $529.6 million in total deposits was closed. First Southern Bank, Boca Raton, FL has agreed to assume all deposits excluding the Cede & Co. deposits.
