Friday, October 19, 2012

Bank Failure #44 in 2012: GulfSouth Private Bank, Destin, Florida

by Bill McBride on 10/19/2012 05:07:00 PM

Private, quietly
Hours before SmartBank arrived
Smarter cash made off.

by Soylent Green is People

From the FDIC: SmartBank, Pigeon Forge, Tennessee, Assumes All of the Deposits of GulfSouth Private Bank, Destin, Florida
As of June 30, 2012, GulfSouth Private Bank had approximately $159.1 million in total assets and $151.1 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $36.1 million. ... GulfSouth Private Bank is the 44th FDIC-insured institution to fail in the nation this year, and the sixth in Florida.
The FDIC gets back to work.

Earlier on Existing Home Sales:
Existing Home Sales in September: 4.75 million SAAR, 5.9 months
Existing Home Sales: A few comments and NSA Sales Graph
Existing Home Sales graphs