Friday, September 24, 2010

Bank Failure #126: Haven Trust Bank Florida, Ponte Vedra Beach, Florida

by Bill McBride on 9/24/2010 05:29:00 PM

Sweet slice of Haven
Too big of a bite was had
Indigestible

by Soylent Green is People

From the FDIC: First Southern Bank, Boca Raton, Florida, Assumes All of the Deposits of Haven Trust Bank Florida, Ponte Vedra Beach, Florida
As of June 30, 2010, Haven Trust Bank Florida had approximately $148.6 million in total assets and $133.6 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.9 million. ... Haven Trust Bank Florida is the 126th FDIC-insured institution to fail in the nation this year, and the twenty-fourth in Florida. The last FDIC-insured institution closed in the state was Horizon Bank, Bradenton, on September 10, 2010..