BankFailFriday December 17, 2010 Recap

Six Banks on BankFailFriday, December 17, 2010, were closed. The total number of banks closed this year is 157. The three banks closed in GA brought the GA year to date total to 21. The bank closed in FL was the 29th FL bank to close this year. The bank closed in AR was the first in AR this year. The bank closed in MN was the eighth in MN this year. The closure of these six banks cost the FDIC Deposit Insurance Fund (DIF) $267.7 million. The six banks assets totaled approximately $1.3 billion. The six banks closed and the banks that acquired them are:

 

• The Bank of Miami, National Association (N.A.), Coral Gables, FL with approximately $448.2 million in total assets and $374.2 million in total deposits was closed. 1st United Bank, Boca Raton, FL has agreed to assume all deposits excluding the Cede & Co. deposits. 
• Chestatee State Bank, Dawsonville, GA with approximately $244.4 million in total assets and $240.5 million in total deposits was closed. Bank of the Ozarks, Little Rock, AR has agreed to assume all deposits.
• Appalachian Community Bank, FSB, McCaysville, GA with approximately $68.2 million in total assets and $76.4 million in total deposits was closed. Peoples Bank of East Tennessee, Madisonville, TN has agreed to assume all deposits excluding the Cede & Co. deposits. 
• United Americas Bank, N.A., Atlanta, GA with approximately $242.3 million in total assets and $193.8 million in total deposits was closed. State Bank and Trust Company, Macon, GA has agreed to assume all deposits excluding the Cede & Co. deposits. 
• First Southern Bank, Batesville, AR with approximately $191.8 million in total assets and $155.8 million in total deposits was closed. Southern Bank, Poplar Bluff, MO has agreed to assume all deposits excluding the Cede & Co. deposits.
• Community National Bank, Lino Lakes, MN with approximately $31.6 million in total assets and $28.8 million in total deposits was closed. Farmers & Merchants Savings Bank, Manchester, IA, has agreed to assume all deposits.

 

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

BankFailFriday November 12, 2010 Recap

Three Banks on BankFailFriday, November 12, 2010, were closed. The total number of banks closed this year is 146. The two banks closed in GA brought the GA year to date total to 18. The bank closed in AZ was the fourth this year. The closure of these three banks cost the FDIC Deposit Insurance Fund (DIF) $204.4 million. The three banks assets totalled approximately $1 billion. The banks closed were:

• Tifton Banking Company, Tifton, GA with approximately $143.7 million in total assets and $141.6 million in total deposits
• Darby Bank & Trust Co., Vidalia, GA with approximately $654.7 million in total assets and $587.6 million in total deposits
• Copper Star Bank, Scottsdale, AZ with approximately $204.0 million in total assets and $190.2 million in total deposits

BankFailFriday November 5, 2010 Recap

Four Banks on BankFailFriday, November 5, 2010, were closed. The total number of banks closed this year is 143. The closure of these four banks cost the FDIC Deposit Insurance Fund (DIF) $254.5 million. The four banks assets totalled approximately $906 million. The banks closed were:

• K Bank, Randallstown, Maryland
• Western Commercial Bank, Woodland Hills, California
• Pierce Commercial Bank, Tacoma, Washington
• First Vietnamese American Bank, Westminster, California
  

BankFailFriday October 22, 2010 Recap

Seven Banks on BankFailFriday, October 22, 2010, were closed. The total number of banks closed this year is 139. The closure of these seven banks cost the FDIC Deposit Insurance Fund (DIF) $478 Million. The seven banks assets totalled approximately $2.4 Billion. The banks closed were:

• First Bank of Jacksonville, Jacksonville, Florida
• Progress Bank of Florida, Tampa, Florida
• The Gordon Bank, Gordon, Georgia
• The First National Bank of Barnesville, Barnesville, Georgia
• First Suburban National Bank, Maywood, Illinois
• Hillcrest Bank, Overland Park, Kansas
• First Arizona Savings, A FSB, Scottsdale, Arizona

One bank was closed on #BankFailFriday, May 21, 2010. The total number of banks closed this year is 73. The closure of this bank cost the FDIC Deposit Insurance Fund (DIF) $6.0 Million. The closed bank's assets totalled approximately $61.2 million. The bank closed this week was:

• Pinehurst Bank, St. Paul, Minnesota

News stories about these banks can be found at the following links:

• Regulators shut down Pinehurst Bank

• Pinehurst Bank is the latest to fail
  

Seven banks were closed on #BankFailFriday, April 23, 2010. All seven banks were closed in the state of Illinois. The total number of banks closed this year is 57. The closure of these seven banks cost the FDIC Deposit Insurance Fund (DIF) $974 Million. The seven banks assets totalled approximately $6.3 Billion. The banks closed were:

• Amcore Bank, National Association, Rockford, Illinois
• Broadway Bank, Chicago, Illinois
• Citizens Bank&Trust Company of Chicago, Chicago, Illinois
• New Century Bank, Chicago, Illinois
• Lincoln Park Savings Bank, Chicago, Illinois
• Peotone Bank and Trust Company, Peotone, Illinois
• Wheatland Bank, Naperville, Illinois

Eight banks were closed on #BankFailFriday, April 16, 2010. The total number of banks closed this year is 50. The closure of these eight banks cost the FDIC Deposit Insurance Fund (DIF) $985 Million. The eight banks assets totalled approximately $6.3 Billion. The banks closed were:

• Lakeside Community Bank, Sterling Heights, Michigan
• AmericanFirst Bank, Clermont, Florida
• First Federal Bank of North Florida, Palatka, Florida
• Riverside National Bank of Florida, Fort Pierce, Florida
• Butler Bank, Lowell, Massachusetts
• Innovative Bank, Oakland, California
• Tamalpais Bank, San Rafael, California
• City Bank, Lynnwood, Washington

Seven banks were closed on #BankFailFriday, March 19, 2010. The total number of banks closed this year is 37. The closure of these seven banks cost the FDIC Deposit Insurance Fund (DIF) $1.28 Billion. The seven banks assets totaled approximately $3.32 Billion. The banks closed were:

• American National Bank, Parma, Ohio

• Century Security Bank, Duluth, Georgia

• Advanta Bank Corp., Draper, Utah

• Appalachian Community Bank, Ellijay, Georgia

• Bank of Hiawassee, Hiawassee, Georgia

• First Lowndes Bank, Fort Deposit, Alabama

• State Bank of Aurora, Aurora, Minnesota