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Friday, July 22, 2011

Bank Failure #58: Bank of Choice, Greeley, Colorado

by Calculated Risk on 7/22/2011 07:11:00 PM

Bank of Hobson's choice.
Governments way, or highway
Free will delusion

by Soylent Green is People

From the FDIC: Bank Midwest, National Association, Kansas City, Missouri, Assumes All of the Deposits of Bank of Choice, Greeley, Colorado
As of March 31, 2011, Bank of Choice had approximately $1.07 billion in total assets and $924.9 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $213.6 million. ... Bank of Choice is the 58th FDIC-insured institution to fail in the nation this year, and the fifth in Colorado.
I guess they had no choice.