by Calculated Risk on 10/23/2009 05:35:00 PM

An apropos name
American United
We are all failed now.
by Soylent Green is People
From the FDIC:

American United Bank, Lawrenceville, Georgia, was closed today by the Georgia Department of Banking & Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...

As of August 11, 2009, American United Bank had total assets of $111 million and total deposits of approximately $101 million. ...

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $44 million. ... American United Bank is the 101st FDIC-insured institution to fail in the Nation this year, and the twentieth in Georgia. The last FDIC-insured institution closed in the state was Georgian Bank, Atlanta, on September 25, 2009.

The banks are small, but the loss ratios are high! Two down already ...