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Friday, May 31, 2013

Bank Failure #14 in 2013: Banks of Wisconsin, Kenosha, Wisconsin

by Calculated Risk on 5/31/2013 06:37:00 PM

From the FDIC: North Shore Bank, FSB, Brookfield, Wisconsin, Assumes All of the Deposits of Banks of Wisconsin, Kenosha, Wisconsin

As of March 31, 2012, Banks of Wisconsin had approximately $134.0 million in total assets and $127.6 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $26.3 million. ... Banks of Wisconsin is the 14th FDIC-insured institution to fail in the nation this year, and the first in Wisconsin.
The FDIC has slowed down on closing banks, but they are still on pace to close 30+ banks this year.