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Friday, September 10, 2010

Bank Failure #119: Horizon Bank, Bradenton, Florida

by Calculated Risk on 9/10/2010 06:25:00 PM

Fading Horizon
It's reach, overextended.
Federal eclipse.

by Soylent Green is People

From the FDIC: Bank of the Ozarks, Little Rock, Arkansas, Assumes All of the Deposits of Horizon Bank, Bradenton, Florida
As of June 30, 2010, Horizon Bank had approximately $187.8 million in total assets and $164.6 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $58.9 million. ... Horizon Bank is the 119th FDIC-insured institution to fail in the nation this year, and the twenty-third in Florida. The last FDIC-insured institution closed in the state was Community National Bank at Bartow, Bartow, on August 20, 2010.
After taking two weeks off, the FDIC is back in action.