Friday, June 07, 2013

Bank Failure #16 in 2013: Mountain National Bank, Sevierville, Tennessee

by Bill McBride on 6/07/2013 06:54:00 PM

From the FDIC: First Tennessee Bank, National Association, Memphis, Tennessee, Assumes All of the Deposits of Mountain National Bank, Sevierville, Tennessee

As of March 31, 2013, Mountain National Bank had approximately $437.3 million in total assets and $373.4 million in total deposits. ... The FDIC estimates that cost to the Deposit Insurance Fund will be $33.5 million. ... Mountain National Bank is the 16th FDIC-insured institution to fail in the nation this year, and the first in Tennessee.
Friday is here.

Earlier on the employment report:
May Employment Report: 175,000 Jobs, 7.6% Unemployment Rate
Employment Report Comments and more Graphs