Friday, April 30, 2010

Bank Failure #63: BC National Banks, Butler, Missouri

by Calculated Risk on 4/30/2010 07:33:00 PM

Butler bank failure
Deposits gone with the wind
I don't give a damn

by Soylent Green is People

From the FDIC:Community First Bank, Butler, Missouri, Assumes All of the Deposits of BC National Banks, Butler, Missouri
BC National Banks, Butler, Missouri, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ..

As of December 31, 2009, BC National Banks had approximately $67.2 million in total assets and $54.9 million in total deposits. ...

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $11.4 million. ... BC National Banks is the 63rd FDIC-insured institution to fail in the nation this year, and the third in Missouri. The last FDIC-insured institution closed in the state was Champion Bank, Creve Coeur, earlier today.