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Friday, July 13, 2012

Bank Failure #33 in 2012: Glasgow Savings Bank, Glasgow, Missouri

by Calculated Risk on 7/13/2012 05:44:00 PM

Thrifty bunch, the Scots
Not so with Clan Missouri
Penny, pound foolish
by Soylent Green is People

From the FDIC: Regional Missouri Bank, Marceline, Missouri, Assumes All of the Deposits of Glasgow Savings Bank, Glasgow, Missouri
As of March 31, 2012, Glasgow Savings Bank had approximately $24.8 million in total assets and $24.2 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $0.1 million. ... Glasgow Savings Bank is the 33rd FDIC-insured institution to fail in the nation this year, and the first in Missouri.
A small one ... but it is Friday!  On pace for around 60 bank failures this year, the fewest since 25 banks failed in 2008.