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Bailout
: Calculated RiskBank Failure #91: Woodlands Bank, Bluffton, South Carolina
By Anonymous
Woodlands Bank squanders their trust
Grasshoppers rescued
by Soylent Green is People
From the FDIC: Bank of the Ozarks, Little Rock, Arkansas, Assumes All of the Deposits of Woodlands Bank, Bluffton, South Carolina
As of March 31, 2010, Woodlands Bank had approximately $376.2 million in total assets and $355.3 million in total depositsFriday arrives ...
...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $115.0 million. ... Woodlands Bank is the 91st FDIC-insured institution to fail in the nation this year, and the second in South Carolina. The last FDIC-insured institution closed in the state was Beach First National Bank, Myrtle Beach, on April 9, 2010.
Full post as published by Calculated Risk on July 16, 2010 (boomark / email).
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