Friday, May 30, 2014

Bank Failure #9 in 2014: Slavie Federal Savings Bank, Bel Air, Maryland

by Bill McBride on 5/30/2014 06:13:00 PM

From the FDIC: Bay Bank, FSB, Lutherville, Maryland, Assumes All of the Deposits of Slavie Federal Savings Bank, Bel Air, Maryland

As of March 31, 2014, Slavie Federal Savings Bank had approximately $140.1 million in total assets and $111.1 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $6.6 million. ... Slavie Federal Savings Bank is the ninth FDIC-insured institution to fail in the nation this year, and the first in Maryland.
Bank failures three weeks in a row ...