Friday, February 18, 2011

Bank Failure #20 in 2011: Effingham, Springfield, Georgia

by Bill McBride on 2/18/2011 06:06:00 PM

Slaughtered Georgia ham
Springfield Citizen's failure
That's one Effed up bank.

by Soylent Green is People

From the FDIC: HeritageBank of the South, Albany, Georgia, Assumes All of the Deposits of Citizens Bank of Effingham, Springfield, Georgia
As of December 31, 2010, Citizens Bank of Effingham had approximately $214.3 million in total assets and $206.5 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $59.4 million. ... Citizens Bank of Effingham is the twentieth FDIC-insured institution to fail in the nation this year, and the sixth in Georgia.
Georgia on my mind.