BankFailFriday November 19, 2010 Recap

Three Banks on BankFailFriday, November 19, 2010, were closed. The total number of banks closed this year is 149. The bank closed in FL brought the FL year to date total to 28. The bank closed in PA was the first this year while the WI closure was the second this year. The closure of these three banks cost the FDIC Deposit Insurance Fund (DIF) $199.5 million. The three banks assets totalled approximately $969.4 million. The banks closed were:

• Gulf State Community Bank, Carrabelle, FL with approximately $112.1 million in total assets and $112.2 million in total deposits
• Allegiance Bank of North America, Bala Cynwyd, PA with approximately $106.6 million in total assets and $92.0 million in total deposits
• First Banking Center, Burlington, WI with approximately $750.7 million in total assets and $664.8 million in total deposits