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Friday, July 27, 2012

Bank Failure #39 in 2012: Jasper Banking Company, Jasper, Georgia

by Calculated Risk on 7/27/2012 05:51:00 PM

Alchemic Jasper
It’s worth once compared to gold
Morphed to dull lead.

by Soylent Green is People

From the FDIC: Stearns Bank National Association St. Cloud, Minnesota, Assumes All of the Deposits of Jasper Banking Company, Jasper, Georgia
As of March 31, 2012, Jasper Banking Company had approximately $216.7 million in total assets and $213.1 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $58.1 million. ... Jasper Banking Company is the 39th FDIC-insured institution to fail in the nation this year, and the ninth in Georgia.
Another bank in Georgia fails ... what a surprise!

Earlier on GDP:
Real GDP increased 1.5% annual rate in Q2
Q2 GDP: Comments and Investment