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.

Earlier:
• 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