I hate to predict this but...it is not going to cut it to only toss out only five or so banks each week because so many more have failed but are just waiting in the que. So, I think you will see the list get much larger as we get closer and closer to year end. Get ready, it's going to be a wild ride!!!
K Bank Randallstown MD 31263
As of September 30, 2010, K Bank had approximately $538.3 million in total assets and $500.1 million in total deposits.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $198.4 million. Compared to other alternatives,
***K Bank is the 140th FDIC-insured institution to fail in the nation this year, and the fourth in Maryland. ***
Western Commercial Bank Woodland Hills CA 58087
As of September 30, 2010, Western Commercial Bank had approximately $98.6 million in total assets and $101.1 million in total deposits
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $25.2 million. Compared to other alternatives, First California Bank's acquisition was the least costly resolution for the FDIC's DIF.
***Western Commercial Bank is the 141st FDIC-insured institution to fail in the nation this year, and the eleventh in California.***
Pierce Commercial Bank Tacoma WA 34411
As of September 30, 2010, Pierce Commercial Bank had approximately $221.1 million in total assets and $193.5 million in total deposits.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $21.3 million. Compared to other alternatives, Heritage Bank's acquisition was the least costly resolution for the FDIC's DIF.
**Pierce Commercial Bank is the 142nd FDIC-insured institution to fail in the nation this year, and the eleventh in Washington.**
First Vietnamese American Bank In Vietnamese Westminster CA 57885
As of September 30, 2010, First Vietnamese American Bank had approximately $48.0 million in total assets and $47.0 million in total deposits. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $9.6 million. Compared to other alternatives, Grandpoint Bank's acquisition was the least costly resolution for the FDIC's DIF.
***First Vietnamese American Bank is the 143rd FDIC-insured institution to fail in the nation this year, and the twelfth in California***
