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