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Bailout
: Calculated RiskBank Failure #43: Lakeside Community Bank, Sterling Heights, Michigan
By Anonymous
Summer monsoons wreak havoc
Bankers devastate.
by Soylent Green is People
From the FDIC: FDIC Approves The Payout Of The Insured Deposits Of Lakeside Community Bank, Sterling Heights, Michigan
As of December 31, 2009, Lakeside Community Bank had approximately $53.0 million in total assets and $52.3 million in total deposits.A small one to start the day ...
...
Lakeside Community Bank is the 43rd FDIC-insured institution to fail this year, and the first in Michigan. The last institution closed in the state was Citizens State Bank, New Baltimore, on December 18, 2009. The FDIC estimates the cost of the failure to its Deposit Insurance Fund to be approximately $11.2 million
Full post as published by Calculated Risk on April 16, 2010 (boomark / email).
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