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Bailout
: Calculated RiskBank Failure #11 for 2011: First Community Bank, Taos, New Mexico
By Anonymous
The high price of low living
Malfeasance results
by Soylent Green is People
From the FDIC: U.S. Bank, National Association, Minneapolis, Minnesota, Assumes All of the Deposits of First Community Bank, Taos, New Mexico
As of September 30, 2010, First Community Bank had approximately $2.31 billion in total assets and $1.94 billion in total deposits ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $260.0 million. ... First Community Bank is the eleventh FDIC-insured institution to fail in the nation this year, and the first in New Mexico.A billion here, a billion there ...
Full post as published by Calculated Risk on January 28, 2011 (boomark / email).
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