In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Thursday, August 18, 2011

Bank Failure #65: On a Thursday?

by Calculated Risk on 8/18/2011 07:01:00 PM

From the FDIC: Capital Bank, National Association, Rockville, Maryland, Assumes All of the Deposits of Public Savings Bank, Huntingdon Valley, Pennsylvania

As of June 30, 2011, Public Savings Bank had approximately $46.8 million in total assets and $45.8 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $11.0 million. ... Public Savings Bank is the 65th FDIC-insured institution to fail in the nation this year, and the first in Pennsylvania.
Thursday failures are pretty unusual.

• Philly Fed Survey: "Regional manufacturing activity has dipped significantly"
Existing Home Sales in July: 4.67 million SAAR, 9.4 months of supply
Existing Home Sales: Comments and NSA Graph
Existing Home Sales graphs