Friday, June 18, 2010

Bank Failure #83: Nevada Security Bank, Reno, Nevada

by Bill McBride on 6/18/2010 09:10:00 PM

Security Bank
Silver State institution
Sugar-coat veneer

by Soylent Green is People

From the FDIC: Umpqua Bank, Roseburg, Oregon, Assumes All of the Deposits of Nevada Security Bank, Reno, Nevada
As of March 31, 2010, Nevada Security Bank had approximately $480.3 million in total assets and $479.8 million in total deposits ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $80.9 million. ... Nevada Security Bank is the 83rd FDIC-insured institution to fail in the nation this year, and the third in Nevada. The last FDIC-insured institution closed in the state was Sun West Bank, Las Vegas, on May 28, 2010.
Friday wasn't cancelled ...