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: Calculated RiskBank Failure #88: Ideal Federal Savings Bank, Baltimore, Maryland
By Anonymous
Ideal Federal... whoosh
A trifecta miss : - (
by Soylent Green is People
From the FDIC: FDIC Approves the Payout of the Insured Deposits of Ideal Federal Savings Bank, Baltimore, Maryland
As of March 31, 2010, Ideal Federal Savings Bank had approximately $6.3 million in total assets and $5.8 million in total deposits.Pretty small. Not ideal.
...
he cost to the FDIC's Deposit Insurance Fund is estimated to be $2.1 million. Ideal Federal Savings Bank is the 88th FDIC-insured institution to fail in the nation this year, and the third in Maryland. The last FDIC-insured institution closed in the state was Bay National Bank, Baltimore, earlier today.
Full post as published by Calculated Risk on July 09, 2010 (boomark / email).
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