Thursday, July 02, 2009

Three More Bank Failures: #46, #47, #48

by Calculated Risk on 7/02/2009 05:45:00 PM

John Warner collapse
This Lincoln State bank fell hard
Now worth a penny.


First State... Second Fail
Winchester, shot by bank Regs
Any more Partner?


A vein has opened
Red ink drains from Rock River
No stop to the flow

by Soylent Green is People


From FDIC: John Warner Bank, Clinton, Illinois
As of April 30, 2009, The John Warner Bank had total assets of $70 million and total deposits of approximately $64 million ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $10 million. State Bank of Lincoln's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to alternatives. The John Warner Bank is the 46th FDIC-insured institution to fail in the nation this year, and the seventh in Illinois.
From the FDIC: First State Bank of Winchester, Winchester, Illinois
As of April 30, 2009, The First State Bank of Winchester had total assets of $36 million and total deposits of approximately $34 million. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $6 million. The First National Bank of Beardstown's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to alternatives. The First State Bank of Winchester is the 47th FDIC-insured institution to fail in the nation this year, and the eighth in Illinois
From FDIC: Rock River Bank, Oregon, Illinois
As of April 30, 2009, Rock River Bank had total assets of $77 million and total deposits of approximately $75.8 million ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $27.6 million. The Harvard State Bank's acquisition of all the deposits was the "least costly" resolution for the FDIC's DIF compared to alternatives. Rock River Bank is the 48th FDIC-insured institution to fail in the nation this year, and the ninth in Illinois.