Friday, November 19, 2010

Bank Failure #148: Allegiance Bank of North America, Bala Cynwyd, Pennsylvania

by Bill McBride on 11/19/2010 06:12:00 PM

I pledge allegiance
To perpetual bailout
And justice for none

by Soylent Green is People

From the FDIC: VIST Bank, Wyomissing, Pennsylvania, Assumes All of the Deposits of Allegiance Bank of North America, Bala Cynwyd, Pennsylvania
As of September 30, 2010, Allegiance Bank of North America had approximately $106.6 million in total assets and $92.0 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $14.2 million. .... Allegiance bank of North America is the 148th FDIC-insured institution to fail in the nation this year, and the first in Pennsylvania.
Two down today ...