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Bank Failures #121 to 124: Georgia and Ohio

By Anonymous

The waning Summer
Autumn leaves fall to the ground
As do many banks.
by Soylent Green is People
From the FDIC: Community & Southern Bank, Carrollton, Georgia, Assumes All of the Deposits of Three Georgia Institutions

As of June 30, 2010, Bank of Ellijay had total assets of $168.8 million and total deposits of $160.7 million; First Commerce Community Bank had total assets of $248.2 million and total deposits of $242.8 million; and The Peoples Bank had total assets of $447.2 million and total deposits of $398.2 million.
...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for Bank of Ellijay will be $55.2 million; for First Commerce Community Bank, $71.4 million; and for The Peoples Bank, $98.9 million. ... These failures bring the total number of failures to 123 for the nation and to 14 for Georgia. Prior to these failures, the last bank closed in the state was Northwest Bank & Trust, Acworth, on July 31, 2010.

From the FDIC: Foundation Bank, Cincinnati, Ohio, Assumes All of the Deposits of Bramble Savings Bank, Milford, Ohio

As of June 30, 2010, Bramble Savings Bank had approximately $47.5 million in total assets and $41.6 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $14.6 million. ... Bramble Savings Bank is the 124th FDIC-insured institution to fail in the nation this year, and the second in Ohio.

Five down today. The FDIC is back to work ...

Full post as published by Calculated Risk on September 17, 2010 (boomark / email).