Friday, May 08, 2009

FDIC to Open Temporary Florida Office

by Bill McBride on 5/08/2009 04:39:00 PM

From the FDIC: FDIC to Open a Temporary East Coast Satellite Office

The Federal Deposit Insurance Corporation (FDIC) today announced it will open a temporary satellite office in Jacksonville, Florida, to manage receiverships and to liquidate assets from failed financial institutions primarily located in the eastern states.
...
The new office will provide facilities for up to 500 nonpermanent staff and contractors. ... Throughout its history, the FDIC has used these offices to keep temporary asset resolution staff closer to the concentration of failed bank assets they oversee. As the work diminishes, the temporary satellite offices are closed.
Unrelated - of course - BKUNA has been given an extension until May 14th. From the Miami Herald: N.Y. investment firm courting BankUnited
A third potential buyer has emerged for ailing BankUnited.

JC Flowers & Co., a New York investment firm run by J. Christopher Flowers, is looking at acquiring the Coral Gables-based thrift, according to a person familiar with the situation.

BankUnited, the main unit of BankUnited Financial Corp., is under federal regulatory orders to merge or find a buyer to strengthen its capital base. The Federal Deposit Insurance Corp. extended until May 14 the deadline for prospective investors or buyers of the thrift to submit their bids.

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