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Bailout
: Calculated RiskBank Failure #146: Copper Star Bank, Scottsdale, AZ
By Anonymous
Fed burnishing to return
Like a bad penny.
by Soylent Green is People
From the FDIC: Stearns Bank National Association, St. Cloud, Minnesota, Assumes All of the Deposits of Copper Star Bank, Scottsdale, Arizona
As of September 30, 2010, Copper Star Bank had approximately $204.0 million in total assets and $190.2 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $43.6 million. ... Copper Star Bank is the 146th FDIC-insured institution to fail in the nation this year, and the fourth in Arizona.Three down today so far ...
Full post as published by Calculated Risk on November 12, 2010 (boomark / email).
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