Home -> Law Blog Directory -> Bailout Blogs -> Calculated Risk

Bailout

: Calculated Risk

Bank Failure #18: La Coste National Bank, La Coste, Texas

By Anonymous

La Coste in Texas
Alligator shirt emblem?
A penniless bank
by Soylent Green is People
From the FDIC: Community National Bank, Hondo, Texas, Assumes All of the Deposits of the La Coste National Bank, La Coste, Texas

The La Coste National Bank, La Coste, Texas, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...

As of December 31, 2009, The La Coste National Bank had approximately $53.9 million in total assets and $49.3 million in total deposits....

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3.7 million. ... The La Coste National Bank is the 18th FDIC-insured institution to fail in the nation this year, and the first in Texas. The last FDIC-insured institution closed in the state was Madisonville State Bank, Madisonville, on October 30, 2009.

Another small bank ...

Full post as published by Calculated Risk on February 19, 2010 (boomark / email).