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Friday, January 14, 2011

Bank Failure #3 for 2011: Oglethorpe Bank, Brunswick, Georgia

by Calculated Risk on 1/14/2011 05:23:00 PM

Retail Sales increased 0.6% in December
Industrial Production, Capacity Utilization increased in December
Consumer Sentiment declines in January
Core measures of inflation increase in December

Akin appendix
Surgeons remove rotted flesh
Oglethorpe excised

by Soylent Green is People

From the FDIC: Bank of the Ozarks, Little Rock, Arkansas, Assumes All of the Deposits of Oglethorpe Bank, Brunswick, Georgia
As of September 30, 2010, Oglethorpe Bank had approximately $230.6 million in total assets and $212.7 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $80.4 million. ... Oglethorpe Bank is the third FDIC-insured institution to fail in the nation this year, and the first in Georgia.