by Calculated Risk on 12/17/2010 07:03:00 PM

Shadowy Reaper
A grim Black Friday for some
Nearing your banks door?
by Soylent Green is People
From the FDIC: Southern Bank, Poplar Bluff, Missouri, Assumes All of the Deposits of First Southern Bank, Batesville, Arkansas

As of September 30, 2010, First Southern Bank had approximately $191.8 million in total assets and $155.8 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $22.8 million. ... First Southern Bank is the 156th FDIC-insured institution to fail in the nation this year, and the first in Arkansas.

From the FDIC: Farmers & Merchants Savings Bank, Manchester, Iowa, Assumes All of the Deposits of Community National Bank, Lino Lakes, Minnesota

As of September 30, 2010, Community National Bank had approximately $31.6 million in total assets and $28.8 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3.7 million. ... Community National Bank is the 157th FDIC-insured institution to fail in the nation this year, and the eighth in Minnesota.

The FDIC is busy on probably the last closing day of the year.