by Calculated Risk on 10/23/2009 06:10:00 PM

Flagship, Hillcrest crash
Florida deals gone badly
Few survivors left
by Soylent Green is People
From the FDIC:

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

As of October 1, 2009 , Hillcrest Bank Florida had total assets of $83 million and total deposits of approximately $84 million. ...

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $45 million. ... Hillcrest Bank Florida is the 102nd FDIC-insured institution to fail in the Nation this year, and the eighth in Florida. The last FDIC-insured institution closed in the state was Partners Bank, Naples, earlier this evening.

From the FDIC:

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

As of August 31, 2009, Flagship National Bank had total assets of $190 million and total deposits of approximately $175 million. ...

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $59 million. ... Flagship National Bank is the 103rd FDIC-insured institution to fail in the Nation this year, and the ninth in Florida. The last FDIC-insured institution closed in the state was Hillcrest Bank Florida, Naples, which also closed today.