Friday, June 17, 2011

Bank Failures #46 & 47 in 2011: Georgia and Florida

by Bill McBride on 6/17/2011 06:55:00 PM

Lost assets per day
Wont' keep the Feds far away
As McIntosh found.

by Soylent Green is People

From the FDIC: Hamilton State Bank, Hoschton, Georgia, Assumes All of the Deposits of McIntosh State Bank, Jackson, Georgia
As of March 31, 2011, McIntosh State Bank had approximately $339.9 million in total assets and $324.4 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $80.0 million. ... McIntosh State Bank is the 46th FDIC-insured institution to fail in the nation this year, and the thirteenth in Georgia.
Tampa bank plundered
Not by ye scurvy pirates...
Buccaneer banksters!

by Soylent Green is People

From the FDIC: Stonegate Bank, Fort Lauderdale, Florida, Assumes All of the Deposits of First Commercial Bank of Tampa Bay, Tampa, Florida
As of March 31, 2011, First Commercial Bank of Tampa Bay had approximately $98.6 million in total assets and $92.6 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $28.5 million. ... First Commercial Bank of Tampa Bay is the 47th FDIC-insured institution to fail in the nation this year, and the sixth in Florida.

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