Friday, March 02, 2012

Bank Failure #12 in 2012: Georgia again

by Bill McBride on 3/02/2012 05:05:00 PM

Boots, Tico, and Map
Vamonos a Doraville
Swiper’s stole a bank.

by Soylent Green is People

From the FDIC: Metro City Bank, Doraville, Georgia, Assumes All of the Deposits of Global Commerce Bank, Doraville, Georgia
As of December 31, 2011, Global Commerce Bank had approximately $143.7 million in total assets and $116.8 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $17.9 million. ... Global Commerce Bank is the 12th FDIC-insured institution to fail in the nation this year, and the third in Georgia.
Are there any banks left in Georgia?

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