Home -> Law Blog Directory -> Bailout Blogs -> Calculated Risk

Bailout

: Calculated Risk

Bank Failures #152 to #154: Florida and Georgia

By Anonymous

To: Bad bank trio
Stockings filled with coal lumps.
From: Ms. Santa Bair
by Soylent Green is People
From the FDIC: 1st United Bank, Boca Raton, Florida, Assumes All of the Deposits of the Bank of Miami, National Association, Coral Gables, Florida

As of September 30, 2010, The Bank of Miami, N.A. had approximately $448.2 million in total assets and $374.2 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $64.0 million. ... The Bank of Miami, N.A. is the 152nd FDIC-insured institution to fail in the nation this year, and the 29th in Florida.

From the FDIC: Bank of the Ozarks, Little Rock, Arkansas, Assumes All of the Deposits of Chestatee State Bank, Dawsonville, Georgia

As of September 30, 2010, Chestatee State Bank had approximately $244.4 million in total assets and $240.5 million in total deposits ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $75.3 million. ... Chestatee State Bank is the 153rd FDIC-insured institution to fail in the nation this year, and the 19th in Georgia.

From the FDIC: Peoples Bank of East Tennessee, Madisonville, Tennessee, Assumes All of the Deposits of Appalachian Community Bank, F.S.B., McCaysville, Georgia

As of September 30, 2010, Appalachian Community Bank, F.S.B. had approximately $68.2 million in total assets and $76.4 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $26.0 million. ... Appalachian Community Bank, F.S.B. is the 154th FDIC-insured institution to fail in the nation this year, and the 20th in Georgia.

Georgia on the FDIC's mind ... again.

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