Friday, April 15, 2011

Bank Failures #29 through #33 in 2011

by Bill McBride on 4/15/2011 06:16:00 PM

Amazing Georgia
Hot money banks drop like flies
All pits and no peach.


Doom broom sweeps Eastward.
Two South and one North bank fails
West crest approaching?

by Soylent Green is People

Bartow County Bank, Cartersville, Georgia
As of December 31, 2010, Bartow County Bank had approximately $330.2 million in total assets and $304.1 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $69.5 million. ... Bartow County Bank is the 29th FDIC-insured institution to fail in the nation this year, and the seventh in Georgia.
New Horizons Bank, East Ellijay, Georgia
As of December 31, 2010, New Horizons Bank had approximately $110.7 million in total assets and $106.1 million in total deposits ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $30.9 million. ... New Horizons Bank is the 30th FDIC-insured institution to fail in the nation this year, and the eighth in Georgia.
Nexity Bank, Birmingham, Alabama
As of December 31, 2010, Nexity Bank had approximately $793.7 million in total assets and $637.8 million in total deposits ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $175.4 million. ... Nexity Bank is the 31st FDIC-insured institution to fail in the nation this year, and the first in Alabama.
Superior Bank, Birmingham, Alabama
As of December 31, 2010, Superior Bank had approximately $3.0 billion in total assets and $2.7 billion in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $259.6 million. ... Superior Bank is the 32nd FDIC-insured institution to fail in the nation this year, and the second in Alabama.
Rosemount National Bank, Rosemount, Minnesota
As of December 31, 2010, Rosemount National Bank had approximately $37.6 million in total assets and $36.6 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3.6 million. ... Rosemount National Bank is the 33rd FDIC-insured institution to fail in the nation this year, and the first in Minnesota.
Superior was a pretty big bank ...