Bank of Choice, Greeley, Colorado, was closed today by state regulators. The FDIC, appointed as receiver, sold the failed bank to Bank Midwest, N.A., Kansas City, MO. Bank of Choice had 17 branches with $1.07 billion in assets and $924.9 million in deposits. Depositors of the failed bank will automatically become depositors of Bank Midwest […]
LandMark Bank of Florida Closed By Regulators
July 22, 2011 By Leave a Comment
LandMark Bank of Sarasota, Florida, became the nation’s 57th banking failure as Florida regulators closed the troubled bank. The FDIC, acting as receiver, sold the failed bank to American Momentum Bank of Tampa, Florida. LandMark Bank, founded in 2000, was one of the largest independent community banks in Sarasota County with six branches and $275 […]
Southshore Community Bank of Florida Becomes 56th Banking Failure
July 22, 2011 By Leave a Comment
Southshore Community Bank of Apollo Beach, Florida, was closed today by Florida regulators who appointed the FDIC as receiver. The FDIC sold the failed bank to American Momentum Bank of Tampa, Florida. Southshore had only two branches. All depositors of Southshore will automatically become depositors of American Momentum Bank. Depositors of failed Southshore can continue […]
Four Banks Fail In Georgia, Florida and Arizona
July 15, 2011 By Leave a Comment
July 15 – Regulators closed four banks today in Georgia, Florida and Arizona, bringing the total number of bank failures this year to 55. The total assets of the four failed banks amounted to $679 million and the cost to the FDIC Deposit Insurance Fund was estimated at $129.1 million. The four failed banks this […]
Summit Bank of Arizona Closed By Regulators
July 15, 2011 By Leave a Comment
Summit Bank of Prescott, Arizona, was closed by the Arizona Department of Financial Institutions. The FDIC, acting as receiver, sold the failed bank to The Foothills Bank, Yuma, AZ. Summit Bank was a small one branch bank. The sole branch of Summit Bank will reopen on Monday as a branch of The Foothills Bank. Depositors […]
First Peoples Bank, Port Saint Lucie, FL, Closed By Regulators
July 15, 2011 By Leave a Comment
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” […]
High Trust Bank of Georgia Fails, Sold To Ameris Bank
July 15, 2011 By Leave a Comment
High Trust Bank, Stockbridge, Georgia, was closed today by the Georgia Department of Banking and Finance. The FDIC, acting as receiver, sold the $192 million asset failed bank to Ameris Bank of Moultrie, Georgia. High Trust Bank has consistently been ranked as one of the most unsafe banks in Georgia by various bank rating agencies. […]
One Georgia Bank of Atlanta Fails, Sold To Bank With Outstanding TARP Loans
July 15, 2011 By Leave a Comment
One Georgia Bank of Atlanta, Georgia, a $186 million dollar asset bank, was closed today by the Georgia Department of Banking and Finance. The FDIC, acting as receiver, sold the failed bank to Ameris Bank. One Georgia Bank has been effectively insolvent since late last year with a troubled asset ratio of 350% which is […]
3 Failed Banks In Colorado and Illinois Cost FDIC $632 Million
July 8, 2011 By Leave a Comment
After taking off a week from bank closings due to the fourth of July holiday weekend, regulators came back to work, closing two banks in Colorado and one in Illinois. The largest banking failure of the week was the failure of First Chicago Bank & Trust with almost $1 billion in assets. The FDIC loss […]
Signature Bank of Colorado Closed By Regulators
July 8, 2011 By Leave a Comment
A small Colorado bank became the nation’s 51st banking failure. Signature Bank, Windsor, CO, was closed by the Colorado Division of Banking. The FDIC, acting as receiver, sold the Bank to Points West Community Bank, Colorado. Signature Bank had three branches which will reopen as branches of Points West. Depositors will have full access to […]