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Friday, March 11, 2011

Bank Failure #24 in 2011: The First National Bank of Davis, Davis, Oklahoma

by Calculated Risk on 3/11/2011 06:59:00 PM

From the FDIC: The Pauls Valley National Bank, Pauls Valley, Oklahoma, Assumes All of the Deposits of The First National Bank of Davis, Davis, Oklahoma

As of December 31, 2010, The First National Bank of Davis had approximately $90.2 million in total assets and $68.3 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $26.5 million. ... The First National Bank of Davis is the 24th FDIC-insured institution to fail in the nation this year, and the second in Oklahoma.
The FDIC is back at work.

Update: And #25 ...

From the FDIC: Seaway Bank and Trust Company, Chicago, Illinois Assumes All of the Deposits of Legacy Bank, Milwaukee, Wisconsin
As of December 31, 2010, Legacy Bank had approximately $190.4 million in total assets and $183.3 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $43.5 million. ... Legacy Bank is the 25th FDIC-insured institution to fail in the nation this year, and the third in Wisconsin.