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Bailout

: Calculated Risk

Bank Failure #131: Republic Federal Bank, National Association, Miami, Florida

By Anonymous

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by Soylent Green is People

From the FDIC: 1st United Bank, Boca Raton, Florida, Assumes All of the Deposits of Republic Federal Bank, National Association, Miami, Florida
Republic Federal Bank, National Association, Miami, Florida, was closed today by the Office of the Comptroller of the Currency (OCC), which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...

As of September 30, 2009, Republic Federal Bank, N.A. had total assets of approximately $433.0 million and total deposits of approximately $352.7 million. ...

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $122.6 million. ... Republic Federal Bank, N.A. is the 131st FDIC-insured institution to fail in the nation this year, and the 13th in Florida. The last FDIC-insured institution closed in the state was Commerce Bank of Southwest Florida, Fort Myers, on November 20, 2009.

An early failure ...

Full post as published by Calculated Risk on December 11, 2009 (boomark / email).

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