by Calculated Risk on 10/02/2009 06:11:00 PM

Bair: Send ur dues now.
Bank: GL GBTW
Bair: BCNU
by Soylent Green is People
From the FDIC: The Huntington National Bank, Columbus, Ohio, Assumes All of the Deposits of Warren Bank, Warren, Michigan

Warren Bank, Warren, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...

As of July 31, 2009, Warren Bank had total assets of $538 million and total deposits of approximately $501 million. ...

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $275 million. ... Warren Bank is the 96th FDIC-insured institution to fail in the nation this year, and the second in Michigan. The last FDIC-insured institution closed in the state was Michigan Heritage Bank, Farmington Hills, on April 24, 2009.

It is Friday!