by Calculated Risk on 3/30/2012 05:10:00 PM

Fidelity flop
Michigan mega morass
Sixteenth sour shop
by Soylent Green is People
From the FDIC: The Huntington National Bank, Columbus, Ohio, Assumes All of the Deposits of Fidelity Bank, Dearborn, Michigan

As of December 31, 2011, Fidelity Bank had approximately $818.2 million in total assets and $747.6 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $92.8 million. ... Fidelity Bank is the 16th FDIC-insured institution to fail in the nation this year, and the first in Michigan.

It is Friday! And I need one ...