Hometown Community Bank, established at the peak of the real estate lending mania in 2005, was closed today by the Georgia Department of Banking and Finance. The FDIC, acting as receiver, protected depositors by selling the failed bank to CertusBank, National Association, Easley, South Carolina, which will assume all deposits of Hometown Community Bank. According […]
Citizens First National Bank, IL, Founded In 1865, Closed By Regulators
November 2, 2012 By 1 Comment
One of the country’s oldest banks, Citizens First National Bank, Princeton, IL, was closed today by the Comptroller of the Currency. The FDIC, acting as receiver, sold the failed bank to Heartland Bank and Trust Company, Bloomington, IL. Citizens First National, a large bank with 21 branches and almost $1 billion in assets, becomes the […]
Heritage Bank of Florida Closed By Regulators
November 2, 2012 By Leave a Comment
Heritage Bank of Florida, Lutz, Florida, was closed today by the Florida Office of Financial Regulation and the FDIC was appointed as receiver. The failed bank was taken over by Centennial Bank, Conway, Arkansas, under a purchase and assumption agreement with the FDIC. Heritage Bank of Florida, which was established on August 3, 1999, had […]
NOVA Bank, Berwyn, PA, Fails – Depositors Face Losses As FDIC Fails To Find Buyer
October 26, 2012 By 1 Comment
Large depositors of NOVA Bank, Berwyn, PA, are in a panic today after state regulators closed the failed bank. The FDIC, acting as receiver, was unable to find a buyer for NOVA Bank, and will pay off depositor accounts only up to the FDIC insurance limit of $250,000. NOVA Bank, established in 1887, had 13 […]
Excel Bank, Sedalia, MO, Closed By Regulators
October 19, 2012 By Leave a Comment
The 46th banking failure of 2012 occurred today as the Missouri Division of Finance closed Excel Bank, Sedalia, Missouri. The FDIC, named as receiver, sold the failed bank to Simmons First National Bank, Pine Bluff, Arkansas, which will assume all deposits of the failed bank. Excel Bank, which had been in business since 1964 had […]
First East Side Savings Bank, Florida, Closed By Regulators
October 19, 2012 By Leave a Comment
First Side Savings Bank, Tamarac, Florida, was closed today by the Office of the Comptroller of the Currency. Earlier in the day, a second Florida bank, GulfSouth Private Bank, was closed by Florida banking officials. Florida has now had a total of seven banking failures this year, representing 16% of total U.S. bank failures during […]
GulfSouth Private Bank, Florida, Closed By Regulators
October 19, 2012 By Leave a Comment
The state of Florida had its sixth banking failure of the year today when regulators closed GulfSouth Private Bank, Destin, Florida. The FDIC, acting as receiver, sold the failed bank to SmartBank, Pigeon Forge, Tennessee. All four branches of GulfSouth will reopen as branches of SmartBank on Monday. All depositors of failed GulfSouth will have […]
First United Bank, Crete, IL, Closed By Regulators
September 28, 2012 By Leave a Comment
The Illinois Department of Financial and Professional Regulation made an unannounced visit today at the First United Bank, Crete, Illinois. State regulators shuttered the Bank after determining that it was insolvent and appointed the FDIC as receiver. To protect depositors, the FDIC sold the failed bank to Old Plank Trail Community Bank, N.A., New Lenox, […]
Truman Bank, St. Louis, Mo, Closed By Regulators
September 14, 2012 By Leave a Comment
Truman Bank, St. Louis, Missouri, a four branch bank with over a quarter billion dollars in assets, was closed today by the Missouri Division of Finance. The FDIC, appointed as receiver, sold the failed Bank to Simmons First National Bank, Pine Bluff, Arkansas, which will assume all deposits of Truman Bank. Opened in 1994, Truman […]
First Commercial Bank, Minnesota, Closed By Regulators
September 7, 2012 By Leave a Comment
First Commercial Bank, Bloomington, MN, was closed today by the Minnesota Department of Commerce. The FDIC, which was named as receiver, sold the failed bank to Republic Bank & Trust Company, Louisville, KY. Founded in 1999, First Commercial Bank was a privately held company with total assets of $215.9 million as of June 30, 2012. […]