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: Calculated RiskBank Failure #20 in 2011: Effingham, Springfield, Georgia
By Anonymous
Springfield Citizen's failure
That's one Effed up bank.
by Soylent Green is People
From the FDIC: HeritageBank of the South, Albany, Georgia, Assumes All of the Deposits of Citizens Bank of Effingham, Springfield, Georgia
As of December 31, 2010, Citizens Bank of Effingham had approximately $214.3 million in total assets and $206.5 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $59.4 million. ... Citizens Bank of Effingham is the twentieth FDIC-insured institution to fail in the nation this year, and the sixth in Georgia.Georgia on my mind.
Full post as published by Calculated Risk on February 18, 2011 (boomark / email).
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