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Friday, July 15, 2011

Bank Failure #54: First Peoples Bank, Port Saint Lucie, FL

by Calculated Risk on 7/15/2011 06:08:00 PM

Balmy Florida
Sweating, clock staring bankers
F.D.I.C. Time!

by Soylent Green is People

From the FDIC: Premier American Bank, National Association, Miami, Florida, Assumes All of the Deposits of First Peoples Bank, Port Saint Lucie, Florida
As of March 31, 2011, First Peoples Bank had approximately $228.3 million in total assets and $209.7 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $7.4 million. ... First Peoples Bank is the 54th FDIC-insured institution to fail in the nation this year, and the seventh in Florida.
The Friday afternoon ritual continues - three down today so far.

• From the NY Fed: Empire State Manufacturing Survey indicates conditions deteriorated in July
Consumer Sentiment declines sharply in July
Industrial Production increased 0.2% in June, Capacity Utilization unchanged
Eight Banks Fail European Stress Tests
Key Measures of Inflation ease in June