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Bailout
: Calculated RiskBank Failure #86: High Desert State Bank, Albuquerque, New Mexico
By Anonymous
Road running deposits flee
Wiley banker struck
by Soylent Green is People
From the FDIC: First American Bank, Artesia, New Mexico, Assumes All of the Deposits of High Desert State Bank, Albuquerque, New Mexico
As of March 31, 2010, High Desert State Bank had approximately $80.3 million in total assets and $81.0 million in total deposits. ...That makes three today ...The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $20.9 million. ... High Desert State Bank is the 86th FDIC-insured institution to fail in the nation this year, and the second in New Mexico. The last FDIC-insured institution closed in the state was Charter Bank, Santa Fe, on January 22, 2010.
Full post as published by Calculated Risk on June 25, 2010 (boomark / email).
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