Friday, October 19, 2012

Bank Failure #46 in 2012: Excel Bank, Sedalia, Missouri

by Bill McBride on 10/19/2012 07:36:00 PM

Bumbling bankers:
Our spreadsheets aren’t adding up
Big Excel problem.

by Soylent Green is People

From the FDIC: Simmons First National Bank, Pine Bluff, Arkansas, Assumes All of the Deposits of Excel Bank, Sedalia, Missouri
As of June 30, 2012, Excel Bank had approximately $200.6 million in total assets and $187.4 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $40.9 million. ... Excel Bank is the 46th FDIC-insured institution to fail in the nation this year, and the third in Missouri.
FDIC hat trick today!

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