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Friday, August 19, 2011

Bank Failure #66: Lydian Private Bank, Palm Beach, Florida

by Calculated Risk on 8/19/2011 04:22:00 PM

Thursday, Friday fails
There's no rest for the wicked
Bums rush to exits?

by Soylent Green is People

From the FDIC: Sabadell United Bank, National Association, Miami, Florida, Assumes All of the Deposits of Lydian Private Bank, Palm Beach, Florida
As of June 30, 2011, Lydian Private Bank had approximately $1.70 billion in total assets and $1.24 billion in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $293.2 million. ... Lydian Private Bank is the 66th FDIC-insured institution to fail in the nation this year, and the tenth in Florida.
This is a pretty large failure ...