FDIC closes Orion Bank, Naples, Fl and Century Bank, Sarasota Fl.

[Dr.Phool]

Source: FDIC Press release

No headlines yet. FDIC press release.

IBERIABANK, Lafayette, Louisiana, Assumes All of the Deposits of Orion Bank, Naples, Florida

FOR IMMEDIATE RELEASE
November 13, 2009
Media Contact:
LaJuan Williams-Dickerson
Office: [phone]

http://www.fdic.gov/news/news/press/2009/pr09206.html

Orion Bank, Naples, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with IBERIABANK, Lafayette, Louisiana, to assume all of the deposits of Orion Bank.

The 23 branches of Orion Bank will reopen on Saturday as branches of IBERIABANK. Depositors of Orion Bank will automatically become depositors of IBERIABANK. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branches until IBERIABANK can fully integrate the deposit records of Orion Bank.

This evening and over the weekend, depositors of Orion Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual. (snip)




Press Releases
IBERIABANK, Lafayette, Louisiana, Assumes All of the Deposits of Century Bank, Federal Savings Bank, Sarasota, Florida

FOR IMMEDIATE RELEASE
November 13, 2009
Media Contact:
LaJuan Williams-Dickerson
Office: [phone]

http://www.fdic.gov/news/news/press/2009/pr09205.html

Century Bank, Federal Savings Bank, Sarasota, Florida, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with IBERIABANK, Lafayette, Louisiana, to assume all of the deposits of Century Bank, FSB.

The eleven branches of Century Bank, FSB will reopen during normal business hours as branches of IBERIABANK. Depositors of Century Bank, FSB will automatically become depositors of IBERIABANK. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship to retain their deposit insurance coverage. Customers should continue to use their existing branches until IBERIABANK can fully integrate the deposit records of Century Bank, FSB.



This evening and over the weekend, depositors of Century Bank, FSB can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

Read more: http://www.fdic.gov/

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The night is still young.

[bluestateguy]

1. Thank goodness this agency exists

If it didn't we'd have bank runs all over again.

[defendandprotect]

6. Yeah, but, depends on who's running it . . .all of government and agencies are like

a typewriter -- depends on who's doing the writing!!!

Bush, of course, contaminated/politicized all of government and its agencies --

[ixion]

2. Happy Bank Failure Friday everyone...

seems like it's become a bit too traditional...

[phasma ex machina]

3. Yet another Friday night spent watching a new episode of the FDIC failure reality show. nt

[JDPriestly]

4. 120 failures this year. 30 last year.

http://www2.fdic.gov/hsob/HSOBSummaryRpt.asp?BegYear=2008&EndYear=2009&State=2

There were 380 bank failures in 1990.

http://www2.fdic.gov/hsob/HSOBSummaryRpt.asp?BegYear=1935&EndYear=2009&State=2

[Mithreal]

5. As banks get bigger we can have fewer failures

[JDPriestly]

7. Progress???

[David Zephyr]

8. Drip, drip, drip.

.