BankMeridian, N.A., Columbia, South Carolina, was closed today by state regulators who appointed the FDIC as receiver. The FDIC sold the failed bank to SCBT, Orangeburg, South Carolina, which will assume all deposits of the failed bank. BankMeridian which had a total of 3 branches, opened for business in May 2006. The Bank raised $31.5 […]
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. […]
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 […]
Colorado Capital Bank Closed By Regulators
July 8, 2011 By Leave a Comment
Colorado Capital Bank, which described itself as a niche bank for privately-held businesses and nonprofit organizations, was closed today by the Colorado Division of Banking. The FDIC, as receiver, sold the failed bank to First-Citizens Bank & Trust Company, Raleigh, North Carolina. The seven branches of Colorado Capital will reopen as usual on Monday as […]
First Choice Community Bank, Dallas, Georgia, Fails
April 30, 2011 By Leave a Comment
First Choice Community Bank of Georgia, became the nation’s 37th banking failure. According to the FDIC press release, the failed bank will be sold to Bank of the Ozarks. Bank of the Ozarks, Little Rock, Arkansas, acquired the banking operations, including all the deposits, of two Georgia-based banks. To protect depositors, the Federal Deposit Insurance […]
American Trust Bank, Roswell, GA, Collapses Under Bad Loans
February 4, 2011 By Leave a Comment
February 4, 2011 – Georgia, one of the epicenters of bank failures last year, continues to lead the nation again this year. Four out of the thirteen banking failures thus far in 2011 have occurred in Georgia. American Trust Bank, Roswell, Georgia, was closed by the Georgia Department of Banking and Finance, which appointed the […]