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Bailout

: Calculated Risk

Bank Failure #119: Horizon Bank, Bradenton, Florida

By Anonymous

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Fading Horizon
It's reach, overextended.
Federal eclipse.
by Soylent Green is People

From the FDIC: Bank of the Ozarks, Little Rock, Arkansas, Assumes All of the Deposits of Horizon Bank, Bradenton, Florida
As of June 30, 2010, Horizon Bank had approximately $187.8 million in total assets and $164.6 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $58.9 million. ... Horizon Bank is the 119th FDIC-insured institution to fail in the nation this year, and the twenty-third in Florida. The last FDIC-insured institution closed in the state was Community National Bank at Bartow, Bartow, on August 20, 2010.
After taking two weeks off, the FDIC is back in action.

Full post as published by Calculated Risk on September 10, 2010 (boomark / email).

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