FDIC Friday - February 4, 2011
Posted: Fri Feb 04, 2011 8:42 pmAmerican Trust Bank, Roswell, GA
As of December 31, 2010, American Trust Bank had approximately $238.2 million in total assets and $222.2 million in total deposits. In addition to assuming all of the deposits of the failed bank, Renasant Bank agreed to purchase approximately $147.4 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.
The FDIC and Renasant Bank entered into a loss-share transaction on $94.3 million of American Trust Bank's assets. Renasant Bank will share in the losses on the asset pools covered under the loss-share agreement.
American Trust Bank is the twelfth FDIC-insured institution to fail in the nation this year, and the third in Georgia. The last FDIC-insured institution closed in the state was Enterprise Banking Company, McDonough, on January 21, 2011.
North Georgia Bank, Watkinsville, GA
As of December 31, 2010, North Georgia Bank had approximately $153.2 million in total assets and $139.7 million in total deposits. BankSouth agreed to purchase approximately $123.9 million of the failed bank's assets, including all of the loans. The FDIC will retain the remaining assets for later disposition.
The FDIC and BankSouth entered into a loss-share transaction on $120.1 million of North Georgia Bank's assets. BankSouth will share in the losses on the asset pools covered under the loss-share agreement.
North Georgia Bank is the thirteenth FDIC-insured institution to fail in the nation this year, and the fourth in Georgia. The last FDIC-insured institution closed in the state was American Trust Bank, Roswell, earlier today.
First Bank Chicago, Chicago, IL
As of December 31, 2010, Community First Bank – Chicago had approximately $51.1 million in total assets and $49.5 million in total deposits. Northbrook Bank and Trust Company will pay the FDIC a premium of 0.50 percent to assume all of the deposits of Community First Bank – Chicago. In addition to assuming all of the deposits of the failed bank, Northbrook Bank and Trust Company agreed to purchase essentially all of the assets.
The FDIC and Northbrook Bank and Trust Company entered into a loss-share transaction on $42.8 million of Community First Bank – Chicago's assets.
Community First Bank – Chicago is the fourteenth FDIC-insured institution to fail in the nation this year, and the first in Illinois. The last FDIC-insured institution closed in the state was First Suburban National Bank, Maywood, on October 22, 2010.
As of December 31, 2010, American Trust Bank had approximately $238.2 million in total assets and $222.2 million in total deposits. In addition to assuming all of the deposits of the failed bank, Renasant Bank agreed to purchase approximately $147.4 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.
The FDIC and Renasant Bank entered into a loss-share transaction on $94.3 million of American Trust Bank's assets. Renasant Bank will share in the losses on the asset pools covered under the loss-share agreement.
American Trust Bank is the twelfth FDIC-insured institution to fail in the nation this year, and the third in Georgia. The last FDIC-insured institution closed in the state was Enterprise Banking Company, McDonough, on January 21, 2011.
North Georgia Bank, Watkinsville, GA
As of December 31, 2010, North Georgia Bank had approximately $153.2 million in total assets and $139.7 million in total deposits. BankSouth agreed to purchase approximately $123.9 million of the failed bank's assets, including all of the loans. The FDIC will retain the remaining assets for later disposition.
The FDIC and BankSouth entered into a loss-share transaction on $120.1 million of North Georgia Bank's assets. BankSouth will share in the losses on the asset pools covered under the loss-share agreement.
North Georgia Bank is the thirteenth FDIC-insured institution to fail in the nation this year, and the fourth in Georgia. The last FDIC-insured institution closed in the state was American Trust Bank, Roswell, earlier today.
First Bank Chicago, Chicago, IL
As of December 31, 2010, Community First Bank – Chicago had approximately $51.1 million in total assets and $49.5 million in total deposits. Northbrook Bank and Trust Company will pay the FDIC a premium of 0.50 percent to assume all of the deposits of Community First Bank – Chicago. In addition to assuming all of the deposits of the failed bank, Northbrook Bank and Trust Company agreed to purchase essentially all of the assets.
The FDIC and Northbrook Bank and Trust Company entered into a loss-share transaction on $42.8 million of Community First Bank – Chicago's assets.
Community First Bank – Chicago is the fourteenth FDIC-insured institution to fail in the nation this year, and the first in Illinois. The last FDIC-insured institution closed in the state was First Suburban National Bank, Maywood, on October 22, 2010.