by Bill McBride on 10/26/2012 06:08:00 PM
Friday, October 26, 2012
by Soylent Green is People
From the FDIC: FDIC Approves the Payout of the Insured Deposits of NOVA Bank, Berwyn, Pennsylvania
The FDIC was unable to find another financial institution to take over the banking operations of NOVA Bank. The FDIC will mail checks directly to depositors of NOVA Bank for the amount of their insured money.No one wanted this one.
As of June 30, 2012, NOVA Bank had approximately $483.0 million in total assets and $432.2 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $91.2 million. NOVA Bank is the 47th FDIC-insured institution to fail in the nation this year, and the second in Pennsylvania.
Posted by Bill McBride on 10/26/2012 06:08:00 PM