FDIC Friday August 19th and one on August 18th

[Copper Catcher]

Closed on Aug 18th
Capital Bank, National Association, Rockville, Maryland, Assumes All of the Deposits of Public Savings Bank, Huntingdon Valley, Pennsylvania

As of June 30, 2011, Public Savings Bank had approximately $46.8 million in total assets and $45.8 million in total deposits. In addition to assuming all of the deposits of the failed bank, Capital Bank, National Association agreed to purchase essentially all of the assets.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $11.0 million. Compared to other alternatives, Capital Bank, National Association's acquisition was the least costly resolution for the FDIC's DIF. Public Savings Bank is the 65th FDIC-insured institution to fail in the nation this year, and the first in Pennsylvania. The last FDIC-insured institution closed in the state was Earthstar Bank, Southampton, on December 10, 2010.
Closed Aug 19th

Sabadell United Bank, National Association, Miami, Florida, Assumes All of the Deposits of Lydian Private Bank, Palm Beach, Florida
As of June 30, 2011, Lydian Private Bank had approximately $1.70 billion in total assets and $1.24 billion in total deposits. In addition to assuming all of the deposits of the failed bank, Sabadell United Bank, National Association agreed to purchase essentially all of the assets.
The FDIC and Sabadell United Bank, National Association entered into a loss-share transaction on $907.1 million of Lydian Private Bank's assets. Sabadell United Bank, National Association will share in the losses on the asset pools covered under the loss-share agreement.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $293.2 million. Compared to other alternatives, Sabadell United Bank, National Association's acquisition was the least costly resolution for the FDIC's DIF. Lydian Private Bank is the 66th FDIC-insured institution to fail in the nation this year, and the tenth in Florida. The last FDIC-insured institution closed in the state was Landmark Bank of Florida, Sarasota, on July 22, 2011.

Heritage Bank of the South, Albany, Georgia, Assumes All of the Deposits of First Southern National Bank, Statesboro, Georgia

As of June 30, 2011, First Southern National Bank had approximately $164.6 million in total assets and $159.7 million in total deposits. Heritage Bank of the South will pay the FDIC a premium of 1.0 percent to assume all of the deposits of First Southern National Bank. In addition to assuming all of the deposits of the failed bank, Heritage Bank of the South agreed to purchase essentially all of the assets.
The FDIC and Heritage Bank of the South entered into a loss-share transaction on $115.7 million of First Southern National Bank's assets. Heritage Bank of the South will share in the losses on the asset pools covered under the loss-share agreement.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $39.6 million. Compared to other alternatives, Heritage Bank of the South's acquisition was the least costly resolution for the FDIC's DIF. First Southern National Bank is the 67th FDIC-insured institution to fail in the nation this year, and the seventeenth in Georgia. The last FDIC-insured institution closed in the state was High Trust Bank, Stockbridge, on July 15, 2011.

Inland Bank & Trust, Oak Brook, Illinois, Assumes All of the Deposits of First Choice Bank, Geneva, Illinois

As of June 30, 2011, First Choice Bank had approximately $141.0 million in total assets and $137.2 million in total deposits. In addition to assuming all of the deposits of the failed bank, Inland Bank & Trust agreed to purchase essentially all of the assets.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $31.0 million. Compared to other alternatives, Inland Bank & Trust's acquisition was the least costly resolution for the FDIC's DIF. First Choice Bank is the 68th FDIC-insured institution to fail in the nation this year, and the seventh in Illinois. The last FDIC-insured institution closed in the state was Bank of Shorewood, Shorewood, on August 5, 2011.