FDIC Friday! 01-20-12 ~Three Banks Fail!~

[Copper Catcher]

CenterState Bank of Florida, National Association, Winter Haven, Florida, Assumes All of the Deposits of Central Florida State Bank, Belleview, Florida

As of September 30, 2011, Central Florida State Bank had approximately $79.1 million in total assets and $77.7 million in total deposits. In addition to assuming all of the deposits of the failed bank, CenterState Bank of Florida, National Association agreed to purchase essentially all of the assets.

The FDIC and CenterState Bank of Florida, National Association entered into a loss-share transaction on $53.6 million of Central Florida State Bank's assets. CenterState Bank of Florida, 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 $24.4 million. Compared to other alternatives, CenterState Bank of Florida, National Association's acquisition was the least costly resolution for the FDIC's DIF.

Central Florida State Bank is the first FDIC-insured institution to fail in the nation this year, and the first in Florida. The last FDIC-insured institution closed in the state was Premier Community Bank of the Emerald Coast, Crestview, on December 16, 2011.

Hamilton State Bank, Hoschton, Georgia, Assumes All of the Deposits of the First State Bank, Stockbridge, Georgia

As of September 30, 2011, The First State Bank had approximately $536.9 million in total assets and $527.5 million in total deposits. Hamilton State Bank will pay the FDIC a premium of 0.50 percent to assume all of the deposits of The First State Bank. In addition to assuming all of the deposits of the failed bank, Hamilton State Bank agreed to purchase essentially all of the assets.

The FDIC and Hamilton State Bank entered into a loss-share transaction on $419.5 million of The First State Bank's assets. Hamilton State Bank 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 $216.2 million. Compared to other alternatives, Hamilton State Bank's acquisition was the least costly resolution for the FDIC's DIF.

The First State Bank is the second FDIC-insured institution to fail in the nation this year, and the first in Georgia. The last FDIC-insured institution closed in the state was Community Bank of Rockmart, Rockmart, on November 10, 2011.

Capital Bank, National Association, Rockville, Maryland, Assumes All of the Deposits of American Eagle Savings Bank, Boothwyn, Pennsylvania

As of September 30, 2011, American Eagle Savings Bank had approximately $19.6 million in total assets and $17.7 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 $3.2 million. Compared to other alternatives, Capital Bank, National Association's acquisition was the least costly resolution for the FDIC's DIF.

American Eagle Savings Bank is the third 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 Public Savings Bank, Huntingdon Valley, on August 18, 2011.

[Engineer]

I see the FDIC folks are back from their winter holiday.

[Copper Catcher]

Yes they are! Something tells me 2012 will be a very busy year for them!!

[TXBullion]

Been a while since I've seen this thread CC

[Market Harmony]

Been a while since I've seen this thread CC

I love this thread. Unfortunately, CC is one of very few that actually get what this is about... the rest are realcent members

[JadeDragon]

The last bank had assets under $20 million and deposits of a couple million less. I've done real estate deals and mortgages bigger than that. The difference is chump change. We should go buy ourselves a bank - this group could come up with the cash for a small bank and then fill the vault with copper pennies.

[Market Harmony]

The last bank had assets under $20 million and deposits of a couple million less. I've done real estate deals and mortgages bigger than that. The difference is chump change. We should go buy ourselves a bank - this group could come up with the cash for a small bank and then fill the vault with copper pennies.

That is interesting beyond personal gratification!

Please contact me directly if you find a feasible dispensary in the US.