Friday, February 25, 2011

Bank Failure #23 in 2011: Valley Community Bank, St. Charles, Illinois

by Bill McBride on 2/25/2011 06:06:00 PM

Midwest core meltdowns
Radioactive assets
Toxicity rise

by Soylent Green is People

From the FDIC: First State Bank, Mendota, Illinois, Assumes All of the Deposits of Valley Community Bank, St. Charles, Illinois
As of December 31, 2010, Valley Community Bank had approximately $123.8 million in total assets and $124.2 million in total deposits ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $22.8 million. ... Valley Community Bank is the 23rd FDIC-insured institution to fail in the nation this year, and the second in Illinois.
It is Friday ...