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Bank Failures #135 to 138: Four More

By Anonymous

Peoples, Citizens
New South Federal Savings
One Forty Is Near

An Oxymoron
Independent Bankers Bank
Not since Five today.
by Soylent Green is People

From the FDIC: Hancock Bank, Gulfport, Mississippi, Assumes All of the Deposits of Peoples First Community Bank, Panama City, Florida

Peoples First Community Bank, Panama City, Florida, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver....

As of September 30, 2009, Peoples First Community Bank had approximately $1.8 billion in total assets and $1.7 billion in total deposits. ...

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $556.7 million. ... Peoples First Community Bank is the 135th FDIC-insured institution to fail in the nation this year, and the fourteenth in Florida. The last FDIC-insured institution closed in the state was Republic Federal Bank, N.A., Miami, on December 11, 2009.

From the FDIC: FDIC Creates a Deposit Insurance National Bank to Facilitate the Resolution of Citizens State Bank, New Baltimore, Michigan

Citizens State Bank, New Baltimore, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation, which then appointed Federal Deposit Insurance Corporation (FDIC) as receiver. ...

As of September 30, 2009, Citizens State Bank had $168.6 million in total assets and $157.1 million in total deposits. ...

The cost to the FDIC's Deposit Insurance Fund is estimated to be $76.6 million. Citizens State Bank is the 136th bank to fail this year and the fourth in Michigan. The last FDIC-insured institution closed in the state was Home Federal Savings Bank, Detroit, on November 6, 2009

From the FDIC: Beal Bank, Plano, Texas, Assumes All of the Deposits of New South Federal Savings Bank, Irondale, Alabama

New South Federal Savings Bank, Irondale, Alabama, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...

As of September 30, 2009, New South Federal Savings Bank had approximately $1.5 billion in total assets and $1.2 billion in total deposits. ...

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $212.3 million. ... New South Federal Savings Bank is the 137th FDIC-insured institution to fail in the nation this year, and the third in Alabama. The last FDIC-insured institution closed in the state was CapitalSouth Bank, Birmingham, on August 21, 2009.

From the FDIC: FDIC Creates Bridge Bank to Take Over Operations of Independent Bankers' Bank, Springfield, Illinois

The Federal Deposit Insurance Corporation (FDIC) created a bridge bank to take over the operations of Independent Bankers' Bank, Springfield, Illinois, after the bank was closed today by the Illinois Department of Financial and Professional Regulation?Division of Banking, which appointed the FDIC as receiver. ...

As of September 30, 2009, Independent Bankers' Bank had approximately $585.5 million in assets and $511.5 in deposits. At the time of closing, the bank had an estimated $269,000 in uninsured funds. ...

The FDIC estimates that the cost to the Deposit Insurance Fund will be $68.4 million. Independent Bankers' Bank is the 138th bank to fail in the nation this year and the twenty-first in Illinois. The last FDIC-insured institution to fail in the state was Benchmark Bank, Aurora, on December 4, 2009.

Three banks today with no buyer!

Full post as published by Calculated Risk on December 18, 2009 (boomark / email).