Friday, January 31, 2014

Bank Failure #3 in 2014: Syringa Bank, Boise Idaho

by Calculated Risk on 1/31/2014 08:46:00 PM

From the FDIC: Sunwest Bank, Irvine, California, Assumes All of the Deposits of Syringa Bank, Boise Idaho

As of September 30, 2013, Syringa Bank had approximately $153.4 million in total assets and $145.1 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $4.5 million. ... Syringa Bank is the 3rd FDIC-insured institution to fail in the nation this year, and the first in Idaho.
Still closing banks, just fewer this year ... and this was a pretty small hit to the DIF.