by Calculated Risk on 1/28/2011 08:38:00 PM

Taos bank demise
The high price of low living
Malfeasance results
by Soylent Green is People
From the FDIC: U.S. Bank, National Association, Minneapolis, Minnesota, Assumes All of the Deposits of First Community Bank, Taos, New Mexico

As of September 30, 2010, First Community Bank had approximately $2.31 billion in total assets and $1.94 billion in total deposits ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $260.0 million. ... First Community Bank is the eleventh FDIC-insured institution to fail in the nation this year, and the first in New Mexico.

A billion here, a billion there ...