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Friday, June 03, 2011

Bank Failure #45 in 2011: Atlantic Bank and Trust, Charleston, South Carolina

by Calculated Risk on 6/03/2011 07:15:00 PM

Atlantic Bank crash
Slamming into a debt wall
Oceanic fail.

by Soylent Green is People

From the FDIC: First Citizens Bank and Trust Company, Inc., Columbia, South Carolina, Assumes All of the Deposits of Atlantic Bank and Trust, Charleston, South Carolina
As of March 31, 2011, Atlantic Bank and Trust had approximately $208.2 million in total assets and $191.6 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $36.4 million. ... Atlantic Bank and Trust is the 45th FDIC-insured institution to fail in the nation this year, and the second in South Carolina.

Earlier employment posts (with graphs):
May Employment Report: 54,000 Jobs, 9.1% Unemployment Rate
Employment Summary, Part Time Workers, and Unemployed over 26 Weeks
Birth/Death Model and Unemployment by Duration and Education
Employment graph gallery