Friday, May 10, 2013

Bank Failures #11 & 12 in 2013: North Carolina and Georgia

by Bill McBride on 5/10/2013 06:36:00 PM

From the FDIC: Capital Bank, National Association, Rockville, Maryland, Assumes All of the Deposits of Pisgah Community Bank, Asheville, North Carolina

As of March 31, 2013, Pisgah Community Bank had approximately $21.9 million in total assets and $21.2 million in total deposits. ... The FDIC estimates that cost to the Deposit Insurance Fund will be $8.9 million. ... Pisgah Community Bank is the 11th FDIC-insured institution to fail in the nation this year, and the second in North Carolina.
From the FDIC: Synovus Bank, Columbus, Georgia, Assumes All of the Deposits of Sunrise Bank, Valdosta, Georgia
As of March 31, 2013, Sunrise Bank had approximately $60.8 million in total assets and $57.8 million in total deposits. ... The FDIC estimates that cost to the Deposit Insurance Fund will be $17.3 million. ... Sunrise Bank is the 12th FDIC-insured institution to fail in the nation this year, and the third in Georgia.
Two more ...