Gulf State Community Bank, Carrabelle, Florida, Fails Under Mountain Of Bad Loans

Gulf State Community Bank, Carrabelle, Florida was closed today by the Florida Office of Financial Regulation, and the FDIC was named as receiver.  Gulf State had been operating under an FDIC consent order issued November 20, 2009 which required the bank, among other things, to increase capital to adequate levels.  Unable to comply with the […]