Friday, July 30, 2010

Bank Failures #105 & 106: Florida

by Calculated Risk on 7/30/2010 06:10:00 PM

Florida condos
Ghostly towers of failure
Like area banks

by Soylent Green is People

From the FDIC: Centennial Bank, Conway, Arkansas, Acquires All of the Deposits of Two Institutions in Florida
As of March 31, 2010, Bayside Savings Bank had total assets of $66.1 million and total deposits of $52.4 million. Coastal Community Bank had total assets of $372.9 million and total deposits of $363.2 million.
...
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $16.2 million for Bayside Savings Bank and $94.5 million for Coastal Community Bank. ... These two closings bring total closures for the year to 106 banks in the nation, and the 19th and 20th in Florida. Prior to these failures, the last bank closed in Florida was Sterling Bank, Lantana, on July 23, 2010.
Three down today.

Note: The FDIC released the June enforcement actions today, and the unofficial list will be over 800 tonight.