BankFailFriday(sm)

Integra Bank, Evansville, IN $170.7 million cost to FDIC DIF #BankFailFriday

Old National Bank, Evansville, Indiana, Assumes All of the Deposits of Integra Bank, National Association, Evansville, Indiana 



Integra Bank, National Association, Evansville, Indiana, 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 Old National Bank, Evansville, Indiana, to assume all of the deposits of Integra Bank, National Association.

The 52 branches of Integra Bank, National Association will reopen during their normal business hours beginning Saturday as branches of Old National Bank. Depositors of Integra Bank, National Association will automatically become depositors of Old National 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 Integra Bank, National Association should continue to use their existing branch until they receive notice from Old National Bank that it has completed systems changes to allow other Old National Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Integra Bank, National Association 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 March 31, 2011, Integra Bank, National Association had approximately $2.2 billion in total assets and $1.9 billion in total deposits. Old National Bank will pay the FDIC a premium of 1.0 percent to assume all of the deposits of Integra Bank, National Association. In addition to assuming all of the deposits of the failed bank, Old National Bank agreed to purchase essentially all of the assets.

The FDIC and Old National Bank entered into a loss-share transaction on $1.2 billion of Integra Bank, National Association's assets. Old National 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 1-800-830-6698. 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/integra.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $170.7 million. Compared to other alternatives, Old National Bank's acquisition was the least costly resolution for the FDIC's DIF. Integra Bank, National Association is the 61st FDIC-insured institution to fail in the nation this year, and the first in Indiana. The last FDIC-insured institution closed in the state was Irwin Union Bank and Trust Company, Columbus, on September 18, 2009.

BankMeridian, Columbia, SC $65.4 million cost to FDIC DIF #BankFailFriday

SCBT, National Association, Orangeburg, South Carolina, Assumes All of the Deposits of BankMeridian, N.A., Columbia, South Carolina 



BankMeridian, N.A., Columbia, South Carolina, 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 SCBT, National Association, Orangeburg, South Carolina, to assume all of the deposits of BankMeridian, N.A.

The three branches of BankMeridian, N.A. will reopen on Monday as branches of SCBT, National Association. Depositors of BankMeridian, N.A. will automatically become depositors of SCBT, 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 BankMeridian, N.A. should continue to use their existing branch until they receive notice from SCBT, National Association that it has completed systems changes to allow other SCBT, National Association branches to process their accounts as well.

This evening and over the weekend, depositors of BankMeridian, N.A. 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 March 31, 2011, BankMeridian, N.A. had approximately $239.8 million in total assets and $215.5 million in total deposits. In addition to assuming all of the deposits of the failed bank, SCBT, National Association agreed to purchase essentially all of the assets.

The FDIC and SCBT, National Association entered into a loss-share transaction on $179.0 million of BankMeridian, N.A.'s assets. SCBT, 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 1-800-883-4390. 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/bankmeridian.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $65.4 million. Compared to other alternatives, SCBT, National Association's acquisition was the least costly resolution for the FDIC's DIF. BankMeridian, N.A. is the 60th FDIC-insured institution to fail in the nation this year, and the third in South Carolina. The last FDIC-insured institution closed in the state was Atlantic Bank and Trust, Charleston, on June 3, 2011.

First National Bank of Central Florida and Cortez Community Bank, FL #BankFailFriday

Premier American Bank, National Association, Miami, Florida, Acquires All the Deposits of Two Florida Banks 
First National Bank of Central Florida, Winter Park and Cortez Community Bank, Brooksville 

FOR IMMEDIATE RELEASE 
April 29, 2011
Media Contact: 
LaJuan Williams-Young 
(202) 898-3876 
Email: Lwilliams-young@fdic.gov

Premier American Bank, National Association, Miami, Florida, acquired the banking operations, including all the deposits, of two Florida-based banks. To protect depositors, the Federal Deposit Insurance Corporation (FDIC) entered into purchase and assumption agreements with Premier American Bank, N.A.

First National Bank of Central Florida, Winter Park, Florida, was closed today by the Office of the Comptroller of the Currency, which appointed the FDICas receiver. Cortez Community Bank, Brooksville, Florida, was closed by the Florida Office of Financial Regulation, which appointed the FDIC as receiver.

All eight branches of the two closed banks will reopen on Monday as branches of Florida Community Bank, a division of Premier American Bank, N.A. Depositors of the two failed banks will automatically become depositors of Florida Community 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. First National Bank of Central Florida had six branches; and Cortez Community Bank had two branches.

Customers of the two failed banks should continue to use their former branches until they receive notice from Premier American Bank, N.A. that it has completed systems changes to allow other branches of Premier American Bank, N.A. to process their accounts as well. Over the weekend, depositors 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 December 31, 2010, First National Bank of Central Florida had total assets of $352.0 million and total deposits of $312.1 million; and Cortez Community Bank had total assets of $70.9 million and total deposits of $61.4 million. Besides assuming all the deposits from the two Florida banks, Florida Community Bank will purchase essentially all of their assets.

The FDIC and Premier American Bank, N.A. entered into loss-share transactions on the failed banks' assets. The loss-share transaction for First National Bank of Central Florida was $270.0 million; and the loss-share transaction for Cortez Community Bank was $51.3 million. Premier American Bank, N.A. will share in the losses on the asset pools covered under the loss-share agreements. The loss-share transactions are projected to maximize returns on the assets covered by keeping them in the private sector. The transactions also are 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 who have questions about today's transactions can call the FDIC toll free: for First National Bank of Central Florida customers, 1-800-894-3199; and for Cortez Community Bank customers, 1-800-894-2927. The phone numbers 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 until 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 sites: for First National Bank of Central Florida, http://www.fdic.gov/bank/individual/failed/fnbcf.html; and for Cortez Community Bank, http://www.fdic.gov/bank/individual/failed/cortez.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for First National Bank of Central Florida will be $42.9 million; and for Cortez Community Bank, $18.6 million. Premier American Bank, N.A.'s acquisition of all the deposits of the two institutions was the "least costly" option for the DIF compared to all alternatives.

The closings are the 35th and 36th FDIC-insured institutions to fail in the nation so far this year and the third and fourth in Florida. Prior to today, the last bank closed in the state was Sunshine State Community Bank, Port Orange, on February 11, 2011.

Rosemount National Bank, Rosemount, MN - 33rd Bank Closed, 1st in MN - DIF Cost $3.6 Million #BankFailFriday

Central Bank, Stillwater, Minnesota, Assumes All of the Deposits of Rosemount National Bank, Rosemount, Minnesota

FOR IMMEDIATE RELEASE
April 15, 2011
Media Contact:
Greg Hernandez (202) 898-6984
Cell: (202) 340-4922
Email: ghernandez@fdic.gov


Rosemount National Bank, Rosemount, Minnesota, 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 Central Bank, Stillwater, Minnesota, to assume all of the deposits of Rosemount National Bank.

The sole branch of Rosemount National Bank will reopen on Saturday as a branch of Central Bank. Depositors of Rosemount National Bank will automatically become depositors of Central 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 Rosemount National Bank should continue to use their existing branch until they receive notice from Central Bank that it has completed systems changes to allow other Central Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Rosemount National 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 December 31, 2010, Rosemount National Bank had approximately $37.6 million in total assets and $36.6 million in total deposits. In addition to assuming all of the deposits of the failed bank, Central Bank agreed to purchase essentially all of the assets.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-877-367-2719. 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/rosemount.html

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3.6 million. Compared to other alternatives, Central Bank's acquisition was the least costly resolution for the FDIC's DIF. Rosemount National Bank is the 33rd 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 Community National Bank, Lino Lakes, on December 17, 2010.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,657 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-74-2011

Western Springs National Bank and Trust, Western Springs, IL - 27th Bank Closed, 4th in IL - DIF Cost $31.0 Million #BankFailFriday

Heartland Bank and Trust Company, Bloomington, Illinois, Assumes All of the Deposits of Western Springs National Bank and Trust, Western Springs, Illinois

FOR IMMEDIATE RELEASE
April 8, 2011
Media Contact:
LaJuan Williams-Young
Office: 202-898-3876
Email: lwilliams-young@fdic.gov


Western Springs National Bank and Trust, Western Springs, Illinois 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 Heartland Bank and Trust Company, Bloomington, Illinois, to assume all of the deposits of Western Springs National Bank and Trust.

The two branches of Western Springs National Bank and Trust will reopen during normal business hours beginning Saturday as branches of Heartland Bank and Trust Company. Depositors of Western Springs National Bank and Trust will automatically become depositors of Heartland Bank and 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 Western Springs National Bank and Trust should continue to use their existing branch until they receive notice from Heartland Bank and Trust Company that it has completed systems changes to allow other Heartland Bank and Trust Company branches to process their accounts as well.

This evening and over the weekend, depositors of Western Springs National Bank and Trust 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 December 31, 2010, Western Springs National Bank and Trust had approximately $186.8 million in total assets and $181.9 million in total deposits. In addition to assuming all of the deposits of the failed bank, Heartland Bank and Trust Company agreed to purchase essentially all of the failed bank's assets.

The FDIC and Heartland Bank and Trust Company entered into a loss-share transaction on $100.8 million of Western Springs National Bank and Trust's commercial loans. Heartland Bank and Trust Company will share in the losses on the asset pool 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 who have questions about today's transaction can call the FDIC toll-free at 1-800-528-6215. 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/westernsprings.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.0 million. Compared to other alternatives, Heartland Bank and Trust Company's acquisition was the least costly resolution for the FDIC's DIF. Western Springs National Bank and Trust is the 27th FDIC-insured institution to fail in the nation this year, and the fourth in Illinois. The last FDIC-insured institution closed in the state was The Bank of Commerce, Wood Dale, on March 25, 2011.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,657 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-64-2011

The First National Bank of Davis, Davis, OK - 24th Bank Closed - DIF Cost $26.5 Million #BankFailFriday

The Pauls Valley National Bank, Pauls Valley, Oklahoma, Assumes All of the Deposits of The First National Bank of Davis, Davis, Oklahoma

FOR IMMEDIATE RELEASE
March 11, 2011
Media Contact:
David Barr
(202) 898-6992
Email: dbarr@fdic.gov


The First National Bank of Davis, Davis, Oklahoma, 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 The Pauls Valley National Bank, Pauls Valley, Oklahoma, to assume all of the deposits of The First National Bank of Davis.

The sole office of The First National Bank of Davis will reopen under normal business hours beginning Saturday, March 12, as a branch of The Pauls Valley National Bank. Depositors of The First National Bank of Davis will automatically become depositors of The Pauls Valley National 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 National Bank of Davis should continue to use their existing branch until they receive notice from The Pauls Valley National Bank that it has completed systems changes to allow other The Pauls Valley National Bank branches to process their accounts as well.

This evening and over the weekend, depositors of The First National Bank of Davis 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 December 31, 2010, The First National Bank of Davis had approximately $90.2 million in total assets and $68.3 million in total deposits. In addition to paying a premium of 7.5% to assume all of the deposits of the failed bank, The Pauls Valley National Bank agreed to purchase approximately $28.5 million of The First National Bank of Davis' assets. The FDIC will retain the remaining assets for later disposition.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-613-0523. 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., Central Daylight Time (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/firstnatldavis.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $26.5 million. Compared to other alternatives, The Pauls Valley National Bank's acquisition was the least costly resolution for the FDIC's DIF. The First National Bank of Davis is the 24th FDIC-insured institution to fail in the nation this year, and the second in Oklahoma. The last FDIC-insured institution closed in the state was The First State Bank, Camargo, on January 28, 2011.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,657 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-54-2011

Canyon National Bank, Palm Springs, CA $10 million cost to FDIC #BankFailFriday

Canyon National Bank, Palm Springs, California, 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 Pacific Premier Bank, Costa Mesa, California, to assume all of the deposits of Canyon National Bank.

The three branches of Canyon National Bank will reopen during their normal business hours beginning Saturday as branches of Pacific Premier Bank. Depositors of Canyon National Bank will automatically become depositors of Pacific Premier 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 Canyon National Bank should continue to use their existing branch until they receive notice from Pacific Premier Bank that it has completed systems changes to allow other Pacific Premier Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Canyon National 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 December 31, 2010, Canyon National Bank had approximately $210.9 million in total assets and $205.3 million in total deposits. In addition to assuming all of the deposits of the failed bank, Pacific Premier Bank agreed to purchase essentially all of the assets.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-930-5169. The phone number will be operational this evening until 9:00 p.m., Pacific Standard Time (PST); on Saturday from 9:00 a.m. to 6:00 p.m., PST; on Sunday from noon to 6:00 p.m., PST; and thereafter from 8:00 a.m. to 8:00 p.m., PST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/canyonstate.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $10.0 million. Compared to other alternatives, Pacific Premier Bank's acquisition was the least costly resolution for the FDIC's DIF. Canyon National Bank is the eighteenth FDIC-insured institution to fail in the nation this year, and the first in California. The last FDIC-insured institution closed in the state was First Vietnamese American Bank, Westminster, on November 5, 2010.

Community National Bank, Lino Lakes, MN - 157th Bank Closed - DIF Cost $3.7 Million #BankFailFriday

Farmers & Merchants Savings Bank, Manchester, Iowa, Assumes All of the Deposits of Community National Bank, Lino Lakes, Minnesota

FOR IMMEDIATE RELEASE
December 17, 2010
Media Contact:
LaJuan Williams-Young
Office: (202) 898-3876
Email: lwilliams-young@fdic.gov


Community National Bank, Lino Lakes, Minnesota, 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 Farmers & Merchants Savings Bank, Manchester, Iowa, to assume all of the deposits of Community National Bank.

The two branches of Community National Bank will reopen on Saturday as branches of Farmers & Merchants Savings Bank. Depositors of Community National Bank will automatically become depositors of Farmers & Merchants Savings 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 Community National Bank should continue to use their existing branch until they receive notice from Farmers & Merchants Savings Bank that it has completed systems changes to allow other Farmers & Merchants Savings Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Community National 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, 2010, Community National Bank had approximately $31.6 million in total assets and $28.8 million in total deposits. Farmers & Merchants Savings Bank did not pay the FDIC a premium for the deposits of Community National Bank In addition to assuming all of the deposits of the failed bank, Farmers & Merchants Savings Bank agreed to purchase essentially all of the assets.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-356-1848. 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; and thereafter from 8:00 a.m. to 8:00 p.m., CST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/communitynatl.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3.7 million. Compared to other alternatives, Farmers & Merchants Savings Bank's acquisition was the least costly resolution for the FDIC's DIF. Community National Bank is the 157th FDIC-insured institution to fail in the nation this year, and the eighth in Minnesota. The last FDIC-insured institution closed in the state was Community Security Bank, New Prague, on July 23, 2010.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,760 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-276-2010

United Americas Bank, National Association, Atlanta, GA - 155th Bank Closed - DIF Cost $75.8 Million #BankFailFriday

State Bank and Trust Company, Macon, Georgia, Assumes All of the Deposits of United Americas Bank, National Association, Atlanta, Georgia

FOR IMMEDIATE RELEASE
December 17, 2010
Media Contact:
LaJuan Williams-Young
Office: (202) 898-3876
Email: lwilliams-young@fdic.gov


United Americas Bank, National Association, Atlanta, Georgia, 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 State Bank and Trust Company, Macon, Georgia, to assume all of the deposits of United Americas Bank, N.A.

The two branches of United Americas Bank, N.A. will reopen during normal business hours beginning Saturday as branches of State Bank and Trust Company. Depositors of United Americas Bank, N.A. will automatically become depositors of State Bank and 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 United Americas Bank, N.A. should continue to use their existing branch until they receive notice from State Bank and Trust Company that it has completed systems changes to allow other State Bank and Trust Company branches to process their accounts as well.

This evening and over the weekend, depositors of United Americas Bank, N.A. 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, 2010, United Americas Bank, N.A. had approximately $242.3 million in total assets and $193.8 million in total deposits. State Bank and Trust Company did not pay the FDIC a premium for the deposits of United Americas Bank, N.A. In addition to assuming all of the deposits of the failed bank, State Bank and Trust Company agreed to purchase essentially all of the assets.

The FDIC and State Bank and Trust Company entered into a loss-share transaction on $195.8 million of United Americas Bank, N.A.'s assets. State Bank and Trust Company 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 who have questions about today's transaction can call the FDIC toll-free at 1-800-405-1498. 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; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/unitedamericas.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $75.8 million. Compared to other alternatives, State Bank and Trust Company's acquisition was the least costly resolution for the FDIC's DIF. United Americas Bank, N.A. is the 155th FDIC-insured institution to fail in the nation this year, and the 21st in Georgia. The last FDIC-insured institution closed in the state was Appalachian Community Bank, F.S.B., McCaysville, earlier today.

# # #

Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,760 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-274-2010

The Bank of Miami, National Association, Coral Gables, FL - 152nd Bank Closed - DIF Cost $64 Million #BankFailFriday

1st United Bank, Boca Raton, Florida, Assumes All of the Deposits of the Bank of Miami, National Association, Coral Gables, Florida

FOR IMMEDIATE RELEASE
December 17, 2010
Media Contact:
LaJuan Williams-Young
Office: (202) 898-3876
Email: lwilliams-young@fdic.gov


The Bank of Miami, National Association, Coral Gables, Florida, 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 1st United Bank, Boca Raton, Florida, to assume all of the deposits of The Bank of Miami, N.A.

The three branches of The Bank of Miami, N.A. will reopen on Monday as branches of 1st United Bank. Depositors of The Bank of Miami, N.A. will automatically become depositors of 1st United 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 Bank of Miami, N.A. should continue to use their existing branch until they receive notice from 1st United Bank that it has completed systems changes to allow other 1st United Bank branches to process their accounts as well.

This evening and over the weekend, depositors of The Bank of Miami, N.A. 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, 2010, The Bank of Miami, N.A. had approximately $448.2 million in total assets and $374.2 million in total deposits. 1st United Bank did not pay the FDIC a premium for the deposits of The Bank of Miami, N.A. In addition to assuming all of the deposits of the failed bank, 1st United Bank agreed to purchase approximately $442.3 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.

The FDIC and 1st United Bank entered into a loss-share transaction on $313.5 million of The Bank of Miami, N.A.'s assets. 1st United 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 who have questions about today's transaction can call the FDIC toll-free at 1-800-323-6111. 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; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/bankofmiami.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $64.0 million. Compared to other alternatives, 1st United Bank's acquisition was the least costly resolution for the FDIC's DIF. The Bank of Miami, N.A. is the 152nd FDIC-insured institution to fail in the nation this year, and the 29th in Florida. The last FDIC-insured institution closed in the state was Gulf State Community Bank, Carrabelle, on November 19, 2010.

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,760 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-271-2010