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Bank Failures #10 to #12: Georgia, Florida, and Minnesota

By Anonymous

Winter's icy blast
Frail green shoots die each weeks end
Three more banks are hushed
by Soylent Green is People
From the FDIC: Community & Southern Bank, Carrollton, Georgia, Assumes All of the Deposits of First National Bank of Georgia, Carrollton, Georgia

First National Bank of Georgia, Carrollton, Georgia, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...

As of September 30, 2009, First National Bank of Georgia had approximately $832.6 million in total assets and $757.9 million in total deposits....

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $260.4 million. ... First National Bank of Georgia is the tenth FDIC-insured institution to fail in the nation this year, and the first in Georgia. The last FDIC-insured institution closed in the state was Rockbridge Commercial Bank, Atlanta, on December 18, 2009.

From the FDIC: Premier American Bank, National Association, Miami Florida, Assumes All of the Deposits of Florida Community Bank, Immokalee, Florida

Florida Community Bank, Immokalee, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...

As of September 30, 2009, Florida Community Bank had approximately $875.5 million in total assets and $795.5 million in total deposits. ...

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $352.6 million. .... Florida Community Bank is the 11th FDIC-insured institution to fail in the nation this year, and the second in Florida. The last FDIC-insured institution closed in the state was Premier American Bank, Miami, on January 22, 2010.

From the FDIC: United Valley Bank, Cavalier, North Dakota, Assumes All of the Deposits of Marshall Bank, National Association, Hallock, Minnesota

Marshall Bank, National Association, Hallock, Minnesota, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...

As of September 30, 2009, Marshall Bank, N.A. had approximately $59.9 million in total assets and $54.7 million in total deposits. ...

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $4.1 million. ... Marshall Bank, National Association is the 12th FDIC-insured institution to fail in the nation this year, and the second in Minnesota. The last FDIC-insured institution closed in the state was St. Stephen State Bank, St. Stephen, on January 15, 2010.

Full post as published by Calculated Risk on January 29, 2010 (boomark / email).