First East Side Savings Bank, Florida, Closed By Regulators

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 […]

Covenant Bank & Trust of Georgia Closed By Regulators

Covenant Bank & Trust, Rock Spring, Georgia, in business since only 2006, was closed today by the Georgia Department of Banking and Finance.  The FDIC, appointed as receiver, sold the failed bank to Stearns Bank, N.A., St. Cloud, Minnesota, which will assume all deposits of failed Covenant Bank. Covenant Bank & Trust was established as […]