Friday, May 14, 2010

Bank Failure #69: Satilla Community Bank, Saint Marys, Georgia

by Bill McBride on 5/14/2010 05:10:00 PM

Good-bye Satilla
One more Georgia bank wipe-out
B F F begins

by Soylent Green is People

From the FDIC: Ameris Bank, Moultrie, Georgia, Assumes All of the Deposits of Satilla Community Bank, Saint Marys, Georgia
As of March 31, 2010, Satilla Community Bank had approximately $135.7 million in total assets and $134.0 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.3 million. ... Satilla Community Bank is the 69th FDIC-insured institution to fail in the nation this year, and the eighth in Georgia.
Friday is here.