Bank Failure Friday - A Hat Trick

By
Real Estate Agent with San Diego Homes

The nine most terrifying words in the English language are, 'I'm from the government and I'm here to help.'

Ronald Reagan 40th president of US (1911 - 2004)

 

If you are a bank and its Friday, its only four words: "I'm from the government".

The suits struck again today, adding banks 70, 71, and 72 to the list of siezed banks.


From Reuters:

Friday's closures were:

* First State, Florida, which had $463 million in assets and $387 million in deposits. The failure is expected to cost the deposit insurance fund an estimated $116 million.

The FDIC said Stearns Bank, National Association, agreed to assume the insured deposits of First State, whose nine branches will reopen on Monday as branches of Stearns Bank, N.A.

* Community National Bank, Florida, which had $97 million in assets and $93 million in deposits. The failure is expected to cost the deposit insurance fund an estimated $24 million.

The FDIC said Stearns Bank, National Association, will assume the insured deposits of the failed bank, whose four branches will reopen on Saturday as branches of Stearns Bank, N.A.

*Community First Bank, Oregon, which had $209 million in assets and $182 million in deposits. The failure is expected to cost the deposit insurance fund $45 million. The FDIC said Home Federal Bank, Idaho, will assume the insured deposits of the failed bank, whose eight branches will reopen on Monday as branches of Home Federal Bank.

 
close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At

Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the lamp to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the robot to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainer
155,963
Henry Pailles
Chula Vista Realtor,Short sale,Eastlake Real estate,Realtor - Chula Vista, CA
San Diego Real Estate, San Diego Realtor, Chula Vista Real Estate

great mini blog

Oct 06, 2010 08:28 PM #1
Anonymous
Post a Comment
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the printer to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase:

Show All Comments
Rainmaker
27,968

San Diego Short Sales

Ask me a question
*
*
*
Spam prevention

Accessibility option: listen to a question and answer it!

To submit the form,
drag the tshirt to the circle on the side.

Type below the answer to what you hear. Numbers or words, lowercase: