by Bill McBride on 11/16/2012 05:12:00 PM
Friday, November 16, 2012
Hometown Bank on the buffet
Bad asset stuffing.
by Soylent Green is People
From the FDIC: CertusBank, National Association, Easley, South Carolina, Assumes All of the Deposits of Hometown Community Bank, Braselton, Georgia
As of September 30, 2012, Hometown Community Bank had approximately $124.6 million in total assets and $108.9 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $36.7 million. ... Hometown Community Bank is the 50th FDIC-insured institution to fail in the nation this year, and the tenth in Georgia.There are still banks in Georgia? Ten out of fifty failures this year have been in Georgia.
Posted by Bill McBride on 11/16/2012 05:12:00 PM