First Peoples Bank of Port Saint Lucie, Florida, was closed today by the Florida Office of Financial Regulation. The FDIC, acting as receiver, sold the failed bank to Premier American Bank, N.A., Miami, Florida. First Peoples was a relatively new bank that first opened for business in 1999, promising a “customer driven, community oriented approach” […]
Failed Coastal Bank of Florida Sold To Premier American Bank
May 7, 2011 By Leave a Comment
Coastal Bank of Cocoa Beach, Florida, was closed today by the Office of Thrift Supervision. The FDIC, acting as receiver, sold the failed bank to Premier American Bank, N.A., Miami, Florida, which will assume all deposits of failed Coastal Bank. Coastal Bank had only two branches, both of which will reopen on Monday as branches […]
Regulators Close Five Banks – Total Losses To FDIC Top $3 Billion
April 30, 2011 By Leave a Comment
Last week had no bank closings due to the holiday weekend. Regulators returned to work today, closing five insolvent banks in Florida, Georgia and Michigan. A total of 39 banks have now failed during 2011. Although the banking industry has recovered from the dark days of the financial crisis due to unprecedented government aid, the […]
Sunshine State Community Bank, Port Orange, Florida, Collapses
February 11, 2011 By Leave a Comment
Sunshine State Community Bank, Port Orange, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the FDIC as receiver. Sunshine was a five branch bank which opened in mid 2000. During the real estate boom of the early 2000’s, the Bank rapidly expanded its assets, growing from $20 million in 2000 […]