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Friday Evening Failed Bank List [View All]

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FarCenter Donating Member (1000+ posts) Send PM | Profile | Ignore Fri May-01-09 04:11 PM
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Friday Evening Failed Bank List
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http://www.fdic.gov/bank/individual/failed/banklist.html

Only two so far:

http://www.fdic.gov/news/news/press/2009/pr09061.html

On Friday, May 1, 2009, Silverton Bank, N.A., Atlanta, GA was closed by the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.

Silverton Bank did not take deposits directly from the general public nor did it make loans to consumers. It was a commercial bank that provided correspondent banking services to its client banks.

At the time of its closing, Silverton Bank had approximately $4.1 billion in assets and $3.3 billion in deposits, all of which are expected to be within the FDIC's insurance limits.

The FDIC estimates that the cost to the Deposit Insurance Fund will be $1.3 billion.

http://www.fdic.gov/news/news/press/2009/pr09062.html

On Friday, May 1, 2009, Citizens Community Bank, Ridgewood, New Jersey was closed by the New Jersey Department of Banking and Insurance and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed.

As of December 31, 2008, Citizens Community Bank had total assets of approximately $45.1 million and total deposits of $43.7 million. North Jersey Community Bank paid a premium of 0.67 percent to acquire all of the deposits of the failed bank.

The FDIC estimates that the cost to the Deposit Insurance Fund will be $18.1 million. North Jersey Community Bank's acquisition of the deposits of Citizens Community Bank was the "least costly" resolution for the FDIC's Deposit Insurance Fund compared to alternatives.
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