Friday, February 13, 2015

Bank Failure #3 in 2015: Capitol City Bank & Trust Company, Atlanta, Georgia

by Bill McBride on 2/13/2015 06:55:00 PM

Another bank failure in Georgia ...

From the FDIC: First-Citizens Bank & Trust Company, Raleigh, North Carolina, Assumes All of the Deposits of Capitol City Bank & Trust Company, Atlanta, Georgia

As of December 31, 2014, Capitol City Bank & Trust Company had approximately $272.3 million in total assets and $262.7 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $88.9 million. ... Capitol City Bank & Trust Company is the third FDIC-insured institution in the nation to fail this year, and the first in Georgia. The last FDIC-insured institution closed in the state was Eastside Commercial Bank, Conyers, on July 18, 2014.
At least we know it is Friday.