Friday, January 16, 2015

1st Bank Failure of 2015: First National Bank of Crestview, Crestview, Florida

by Bill McBride on 1/16/2015 07:51:00 PM

And it begins ... from the FDIC: First NBC Bank, New Orleans, Louisiana, Assumes All of the Deposits of First National Bank of Crestview, Crestview, Florida

As of September 30, 2014, First National Bank of Crestview had approximately $79.7 million in total assets and $78.6 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $4.4 million. ... First National Bank of Crestview is the 1st FDIC-insured institution to fail in the nation this year. The last FDIC-insured institution closed in the state was Valley Bank, Fort Lauderdale, on June 20, 2014.
The FDIC closed 18 banks last year, down from 24 closures in 2013 and 51 in 2012. Failures peaked at 157 in 2010.