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Grinnell State Bank, Grinnell, Iowa, Assumes All of the Deposits of Polk County Bank, Johnston, Iowa

As of September 30, 2011, Polk County Bank had approximately $91.6 million in total assets and $82.0 million in total deposits. In addition to assuming all of the deposits of the failed bank, Grinnell State Bank agreed to purchase essentially all of the assets.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $12.0 million. Compared to other alternatives, Grinnell State Bank's acquisition was the least costly resolution for the FDIC's DIF. Polk County Bank is the 89th FDIC-insured institution to fail in the nation this year, and the first in Iowa. The last FDIC-insured institution closed in the state was Vantus Bank, Sioux City, on September 4, 2009.


First NBC Bank, New Orleans, Louisiana, Assumes All of the Deposits of Central Progressive Bank, Lacombe, Louisiana

As of September 30, 2011, Central Progressive Bank had approximately $383.1 million in total assets and $347.7 million in total deposits. In addition to assuming all of the deposits of the failed bank, First NBC Bank agreed to purchase approximately $354.4 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $58.1 million. Compared to other alternatives, First NBC Bank's acquisition was the least costly resolution for the FDIC's DIF. Central Progressive Bank is the 90th FDIC-insured institution to fail in the nation this year, and the first in Louisiana. The last FDIC-insured institution closed in the state was Statewide Bank, Covington, on March 12, 2010.

As a FYI:

In 2010 there were 157 bank failures
In 2009 there were 140 bank failures
In 2008 there were 25 bank failures
In 2007 there were 3 bank failures
In 2006 there were no bank failures
In 2005 there were no bank failures

Bank Failures in Brief 2011

The list of Bank Failures in Brief is updated through November 18, 2011.

November

Central Progressive Bank, Lacombe, LA with approximately $383.1 million in total assets and $347.7 million in total deposits was closed. First NBC Bank, New Orleans, LA has agreed to assume all deposits.
(PR-181-2011)

Polk County Bank, Johnston, IA with approximately $91.6 million in total assets and $82.0 million in total deposits was closed. Grinnell State Bank, Grinnell, IA has agreed to assume all deposits.
(PR-180-2011)

Community Bank of Rockmart, Rockmart, GA with approximately $62.4 million in total assets and $55.9 million in total deposits was closed. Century Bank of Georgia, Cartersville, GA has agreed to assume all deposits excluding certain brokered deposits.
(PR-178-2011)

SunFirst Bank, Saint George, UT with approximately $198.1 million in total assets and $169.1 million in total deposits was closed. Cache Valley Bank, Logan, UT has agreed to assume all deposits excluding certain brokered deposits.
(PR-177-2011)

Mid City Bank, Inc., Omaha, NE with approximately $106.1 million in total assets and $105.5 million in total deposits was closed. Premier Bank (formerly Purdum State Bank), Purdum, NE has agreed to assume all deposits.
(PR-176-2011)

October

All American Bank, Des Plaines, IL with approximately $37.8 million in total assets and $33.4 million in total deposits was closed. International Bank of Chicago, Chicago, IL has agreed to assume all deposits.
(PR-174-2011)

Community Banks of Colorado, Greenwood Village, CO with approximately $1.38 billion in total assets and $1.33 billion in total deposits has failed. Bank Midwest, N.A., Kansas City, MO has agreed to assume all deposits excluding certain brokered deposits.
(PR-172-2011)

Community Capital Bank, Jonesboro, GA with approximately $181.2 million in total assets and $166.2 million in total deposits was closed. State Bank and Trust Company, Macon, GA has agreed to assume all deposits.
(PR-171-2011)

Decatur First Bank, Decatur, GA with approximately $191.5 million in total assets and $179.2 million in total deposits was closed. Fidelity Bank, Atlanta, GA has agreed to assume all deposits.
(PR-170-2011)

Old Harbor Bank, Clearwater, FL with approximately $215.9 million in total assets and $217.8 million in total deposits was closed. 1st United Bank, Boca Raton, FL has agreed to assume all deposits.
(PR-169-2011)

Country Bank, Aledo, IL with approximately $190.6 million in total assets and $167.5 million in total deposits was closed. Blackhawk Bank & Trust, Milan, IL has agreed to assume all deposits excluding certain brokered deposits.
(PR-167-2011)

First State Bank, Cranford, NJ with approximately $204.4 million in total assets and $201.2 million in total deposits was closed. Northfield Bank, Staten Island, NY has agreed to assume all deposits.
(PR-166-2011)

Blue Ridge Savings Bank, Inc., Asheville, NC with approximately $161.0 million in total assets and $158.7 million in total deposits was closed. Bank of North Carolina, Thomasville, NC has agreed to assume all deposits.
(PR-165-2011)

Piedmont Community Bank, Gray, GA with approximately $201.7 million in total assets and $181.4 million in total deposits was closed. State Bank and Trust Company, Macon, GA has agreed to assume all deposits.
(PR-164-2011)

Sun Security Bank, Ellington, MO with approximately $355.9 million in total assets and $290.4 million in total deposits was closed. Great Southern Bank, Springfield, MO has agreed to assume all deposits.
(PR-159-2011)

The RiverBank, Wyoming, MN with approximately $417.4 million in total assets and $379.3 million in total deposits was closed. Central Bank, Stillwater, MN has agreed to assume all deposits.
(PR-158-2011)

September

First International Bank, Plano, TX with approximately $239.9 million in total assets and $208.8 million in total deposits was closed. American First National Bank, Houston, TX has agreed to assume all deposits.
(PR-156-2011)

Citizens Bank of Northern California, Nevada City, CA with approximately $288.8 million in total assets and $253.1 million in total deposits was closed. Tri Counties Bank, Chico, CA has agreed to assume all deposits.
(PR-154-2011)

Bank of the Commonwealth, Norfolk, VA with approximately $985.1 million in total assets and $901.8 million in total deposits was closed. Southern Bank and Trust Company, Mount Olive, NC has agreed to assume all deposits excluding certain brokered deposits.
(PR-153-2011)

The First National Bank Of Florida, Milton, FL with approximately $296.8 million in total assets and $280.1 million in total deposits was closed. CharterBank, West Point, GA has agreed to assume all deposits.
(PR-149-2011)

CreekSide Bank, Woodstock, GA with approximately $102.3 million in total assets and $96.6 million in total deposits was closed. Georgia Commerce Bank, Atlanta, GA has agreed to assume all deposits.
(PR-146-2011)

Patriot Bank of Georgia, Cumming, GA with approximately $150.8 million in total assets and $111.2 million in total deposits was closed. Georgia Commerce Bank, Atlanta, GA has agreed to assume all deposits.
(PR-146-2011)

August

First Choice Bank, Geneva, IL with approximately $141.0 million in total assets and $137.2 million in total deposits was closed. Inland Bank & Trust, Oakbrook, IL has agreed to assume all deposits excluding certain brokered deposits.
(PR-139-2011)

First Southern National Bank, Statesboro, GA with approximately $164.6 million in total assets and $159.7 million in total deposits was closed. Heritage Bank of the South, Albany, GA has agreed to assume all deposits excluding certain brokered deposits.
(PR-138-2011)

Lydian Private Bank, Palm Beach, FL, including its division Virtual Bank, with approximately $1.70 billion in total assets and $1.24 billion in total deposits was closed. Sabadell United Bank, National Association (N.A.), Miami, FL has agreed to assume all deposits.
(PR-137-2011)

Public Savings Bank, Huntingdon Valley, PA with approximately $46.8 million in total assets and $45.8 million in total deposits was closed. Capital Bank, National Association (N.A.), Rockville, MD has agreed to assume all deposits excluding certain brokered deposits.
(PR-136-2011)

The First National Bank of Olathe, Olathe, KS with approximately $538.1 million in total assets and $524.3 million in total deposits was closed. Enterprise Bank & Trust, Clayton, MO has agreed to assume all deposits excluding certain brokered deposits.
(PR-134-2011)

Bank of Whitman, Colfax, WA with approximately $548.6 million in total assets and $515.7 million in total deposits was closed. Columbia State Bank, Tacoma, WA has agreed to assume all deposits excluding certain brokered deposits.
(PR-132-2011)

Bank of Shorewood, Shorewood, IL with approximately $110.7 million in total assets and $104.0 million in total deposits was closed. Heartland Bank and Trust Company, Bloomington, IL has agreed to assume all deposits.
(PR-131-2011)

July

Integra Bank National Association, Evansville, IN with approximately $2.2 billion in total assets and $1.9 billion in total deposits was closed. Old National Bank, Evansville, IN has agreed to assume all deposits excluding certain brokered deposits.
(PR-128-2011)

BankMeridian, N.A., Columbia, SC with approximately $239.8 million in total assets and $215.5 million in total deposits was closed. SCBT, National Association, Orangeburg, SC has agreed to assume all deposits excluding certain brokered deposits.
(PR-127-2011)

Virginia Business Bank, Richmond, VA with approximately $95.8 million in total assets and $85.0 million in total deposits was closed. Xenith Bank, Richmond, VA has agreed to assume all deposits.
(PR-126-2011)

Bank of Choice, Greeley, CO with approximately $1.07 billion in total assets and $924.9 million in total deposits was closed. Bank Midwest, National Association (N.A.), Kansas City, MO has agreed to assume all deposits excluding certain brokered deposits.
(PR-124-2011)

LandMark Bank of Florida, Sarasota, FL with approximately $275.0 million in total assets and $246.7 million in total deposits was closed. American Momentum Bank, Tampa, FL has agreed to assume all deposits.
(PR-123-2011)

Southshore Community Bank, Apollo Beach, FL with approximately $46.3 million in total assets and $45.3 million in total deposits was closed. American Momentum Bank, Tampa, FL has agreed to assume all deposits.
(PR-123-2011)

Summit Bank, Prescott, AZ with approximately $72.0 million in total assets and $66.4 million in total deposits was closed. The Foothills Bank, Yuma, AZ has agreed to assume all deposits.
(PR-122-2011)

First Peoples Bank, Port St. Lucie, FL with approximately $228.3 million in total assets and $209.7 million in total deposits was closed. Premier American Bank, N.A., Miami, FL has agreed to assume all deposits excluding certain brokered deposits.
(PR-121-2011)

High Trust Bank, Stockbridge, GA with approximately $192.5 million in total assets and $189.5 million in total deposits was closed. Ameris Bank, Moultrie, GA has agreed to assume all deposits.
(PR-120-2011)

One Georgia Bank, Atlanta, GA with approximately $186.3 million in total assets and $162.1 million in total deposits was closed. Ameris Bank, Moultrie, GA has agreed to assume all deposits excluding certain brokered deposits.
(PR-120-2011)

Signature Bank, Windsor, CO with approximately $66.7 million in total assets and $64.5 million in total deposits was closed. Points West Community Bank, Julesburg, CO has agreed to assume all deposits.
(PR-119-2011)

Colorado Capital Bank, Castle Rock, CO with approximately $717.5 million in total assets and $672.8 million in total deposits was closed. First-Citizens Bank & Trust Company, Raleigh, NC has agreed to assume all deposits excluding certain brokered deposits.
(PR-118-2011)

First Chicago Bank & Trust, Chicago, IL with approximately $959.3 million in total assets and $887.5 million in total deposits was closed. Northbrook Bank & Trust Company, Northbrook, IL has agreed to assume all deposits excluding certain brokered deposits.
(PR-117-2011)

June

Mountain Heritage Bank, Clayton, GA with approximately $103.7 million in total assets and $89.6 million in total deposits was closed. First American Bank and Trust Company, Athens, GA has agreed to assume all deposits excluding certain brokered deposits.
(PR-110-2011)

First Commercial Bank of Tampa Bay, Tampa, FL with approximately $98.6 million in total assets and $92.6 million in total deposits was closed. Stonegate Bank, Fort Lauderdale, FL has agreed to assume all deposits excluding certain brokered deposits.
(PR-105-2011)

McIntosh State Bank, Jackson, GA with approximately $339.9 million in total assets and $324.4 million in total deposits was closed. Hamilton State Bank, Hoschton, GA has agreed to assume all deposits.
(PR-104-2011)

Atlantic Bank and Trust, Charleston, SC with approximately $208.2 million in total assets and $191.6 million in total deposits was closed. First Citizens Bank and Trust Company, Inc., Columbia, SC has agreed to assume all deposits.
(PR-100-2011)

May

First Heritage Bank, Snohomish, WA with approximately $173.5 million in total assets and $163.3 million in total deposits was closed. Columbia State Bank, Tacoma, WA has agreed to assume all deposits.
(PR-094-2011)

Summit Banking Company, Burlington, WA with approximately $142.7 million in total assets and $131.6 million in total deposits was closed. Columbia State Bank, Tacoma, WA has agreed to assume all deposits excluding certain brokered deposits.
(PR-090-2011)

First Georgia Banking Company, Franklin, GA with approximately $731.0 million in total assets and $702.2 million in total deposits was closed. CertusBank, N.A., Easley, SC has agreed to assume all deposits excluding certain brokered deposits.
(PR-089-2011)

Atlantic Southern Bank, Macon, GA with approximately $741.9 million in total assets and $707.6 million in total deposits was closed. CertusBank, N.A., Easley, SC has agreed to assume all deposits excluding certain brokered deposits.
(PR-089-2011)

Coastal Bank, Cocoa Beach, FL with approximately $129.4 million in total assets and $123.9 million in total deposits was closed. Florida Community Bank, a division of Premier American Bank, N.A., Miami, FL has agreed to assume all deposits.
(PR-084-2011)

April

Community Central Bank, Mount Clemens, MI with approximately $476.3 million in total assets and $385.4 million in total deposits was closed. Talmer Bank & Trust, Troy, MI has agreed to assume all deposits excluding certain brokered deposits.
(PR-080-2011)

The Park Avenue Bank, Valdosta, GA with approximately $953.3 million in total assets and $827.7 million in total deposits was closed. Bank of the Ozarks, Little Rock, AR has agreed to assume all deposits excluding certain brokered deposits.
(PR-079-2011)

First Choice Community Bank, Dallas, GA with approximately $308.5 million in total assets and $310.0 million in total deposits was closed. Bank of the Ozarks, Little Rock, AR has agreed to assume all deposits excluding certain brokered deposits.
(PR-079-2011)

Cortez Community Bank, Brooksville, FL with approximately $70.9 million in total assets and $61.4 million in total deposits was closed. Florida Community Bank, a division of Premier American Bank, N.A., Miami, FL has agreed to assume all deposits excluding certain brokered deposits.
(PR-078-2011)

First National Bank of Central Florida, Winter Park, FL with approximately $352.0 million in total assets and $312.1 million in total deposits was closed. Florida Community Bank, a division of Premier American Bank, N.A., Miami, FL has agreed to assume all deposits excluding certain brokered deposits.
(PR-078-2011)

Heritage Banking Group, Carthage, MS with approximately $224.0 million in total assets and $196.2 million in total deposits was closed. Trustmark National Bank, Jackson, MS has agreed to assume all deposits.
(PR-075-2011)

Rosemount National Bank, Rosemount, MN with approximately $37.6 million in total assets and $36.6 million in total deposits was closed. Central Bank, Stillwater, MN has agreed to assume all deposits.
(PR-074-2011)

Superior Bank, Birmingham, AL with approximately $3.0 billion in total assets and $2.7 billion in total deposits was closed. Superior Bank, N.A., Birmingham, AL has agreed to assume all deposits excluding certain brokered deposits.
(PR-073-2011)

Nexity Bank, Birmingham, AL with approximately $793.7 million in total assets and $637.8 million in total deposits was closed. AloStar Bank of Commerce, Birmingham, AL has agreed to assume all deposits excluding certain brokered deposits.
(PR-072-2011)

New Horizons Bank, East Ellijay, GA with approximately $110.7 million in total assets and $106.1 million in total deposits was closed. Citizens South Bank, Gastonia, NC has agreed to assume all deposits excluding certain brokered deposits.
(PR-071-2011)

Bartow County Bank, Cartersville, GA with approximately $330.2 million in total assets and $304.1 million in total deposits was closed. Hamilton State Bank, Hoschton, GA has agreed to assume all deposits.
(PR-070-2011)

Nevada Commerce Bank, Las Vegas, NV with approximately $144.9 million in total assets and $136.4 million in total deposits was closed. City National Bank, Los Angeles, CA has agreed to assume all deposits excluding certain brokered deposits.
(PR-065-2011)

Western Springs National Bank and Trust, Western Springs, IL with approximately $186.8 million in total assets and $181.9 million in total deposits was closed. Heartland Bank and Trust Company, Bloomington, IL has agreed to assume all deposits.
(PR-064-2011)

March

The Bank of Commerce, Wood Dale, IL with approximately $163.1 million in total assets and $161.4 million in total deposits was closed. Advantage National Bank Group, Elk Grove Village, IL has agreed to assume all deposits.
(PR-058-2011)

Legacy Bank, Milwaukee, WI with approximately $190.4 million in total assets and $183.3 million in total deposits was closed. Seaway Bank and Trust Company, Chicago, IL has agreed to assume all deposits excluding certain brokered deposits.
(PR-055-2011)

The First National Bank of Davis, Davis, OK with approximately $90.2 million in total assets and $68.3 million in total deposits was closed. The Pauls Valley National Bank, Pauls Valley, OK has agreed to assume all deposits excluding certain brokered deposits.
(PR-054-2011)

February

Valley Community Bank, St. Charles, IL with approximately $123.8 million in total assets and $124.2 million in total deposits was closed. First State Bank, Mendota, IL has agreed to assume all deposits excluding certain brokered deposits.
(PR-048-2011)

San Luis Trust Bank, FSB, San Luis Obispo, CA with approximately $332.6 million in total assets and $272.2 million in total deposits was closed. First California Bank, Westlake Village, CA has agreed to assume all deposits excluding certain brokered deposits.
(PR-041-2011)

Charter Oak Bank, Napa, CA with approximately $120.8 million in total assets and $105.3 million in total deposits was closed. Bank of Marin, Novato, CA has agreed to assume all deposits excluding certain brokered deposits.
(PR-040-2011)

Citizens Bank of Effingham, Springfield, GA with approximately $214.3 million in total assets and $206.5 million in total deposits was closed. Heritage Bank of the South, Albany, GA has agreed to assume all deposits excluding certain brokered deposits.
(PR-039-2011)

Habersham Bank, Clarkesville, GA with approximately $387.6 million in total assets and $339.9 million in total deposits was closed. SCBT National Association, Orangeburg, SC has agreed to assume all deposits.
(PR-038-2011)

Canyon National Bank, Palm Springs, CA with approximately $210.9 million in total assets and $205.3 million in total deposits was closed. Pacific Premier Bank, Costa Mesa, CA has agreed to assume all deposits excluding certain brokered deposits.
(PR-035-2011)

Badger State Bank, Cassville, WI with approximately $83.8 million in total assets and $78.5 million in total deposits was closed. Royal Bank, Elroy, WI has agreed to assume all deposits excluding certain brokered deposits.
(PR-034-2011)

Peoples State Bank, Hamtramck, MI with approximately $390.5 million in total assets and $389.9 million in total deposits was closed. First Michigan Bank, Troy, MI has agreed to assume all deposits.
(PR-033-2011)

Sunshine State Community Bank, Port Orange, FL with approximately $125.5 million in total assets and $116.7 million in total deposits was closed. Premier American Bank, National Association, Miami, FL has agreed to assume all deposits.
(PR-032-2011)

Community First Bank Chicago, Chicago, IL with approximately $51.1 million in total assets and $49.5 million in total deposits was closed. Northbrook Bank & Trust Company, Northbrook, IL has agreed to assume all deposits.
(PR-025-2011)

North Georgia Bank, Watkinsville, GA with approximately $153.2 million in total assets and $139.7 million in total deposits was closed. BankSouth, Greensboro, GA has agreed to assume all deposits excluding certain brokered deposits.
(PR-024-2011)

American Trust Bank, Roswell, GA with approximately $238.2 million in total assets and $222.2 million in total deposits was closed. Renasant Bank, Tupelo, MS has agreed to assume all deposits.
(PR-023-2011)

January

First Community Bank, Taos, NM with approximately $2.31 billion in total assets and $1.94 billion in total deposits was closed. U.S. Bank, N.A, Minneapolis, MN has agreed to assume all deposits excluding certain brokered deposits.
(PR-018-2011)

FirsTier Bank, Louisville, CO with approximately $781.5 million in total assets and $722.8 million in total deposits was closed. To protect the insured depositors, the FDIC created Deposit Insurance National Bank of Louisville - a new depository institution chartered by the Office of Thrift Supervision (OTS), which will remain open until February 28, 2011.
(PR-017-2011)

Evergreen State Bank, Stoughton, WI with approximately $246.5 million in total assets and $195.2 million in total deposits was closed. McFarland State Bank, McFarland, WI has agreed to assume all deposits excluding certain brokered deposits.
(PR-016-2011)

The First State Bank, Camargo, OK with approximately $43.5 million in total assets and $40.3 million in total deposits was closed. Bank 7, Oklahoma City, OK has agreed to assume all deposits excluding certain brokered deposits.
(PR-015-2011)

United Western Bank, Denver, CO with approximately $2.05 billion in total assets and $1.65 billion in total deposits was closed. First-Citizens Bank & Trust Co., Raleigh, NC has agreed to assume all deposits.
(PR-013-2011)

The Bank of Asheville, Asheville, NC with approximately $195.1 million in total assets and $188.3 million in total deposits was closed. First Bank, Troy, NC has agreed to assume all deposits.
(PR-012-2011)

CommunitySouth Bank & Trust, Easley, SC with approximately $440.6 million in total assets and $402.4 million in total deposits was closed. CertusBank, N.A., Charlotte, NC has agreed to assume all deposits excluding certain brokered deposits.
(PR-011-2011)

Enterprise Banking Company, McDonough, GA with approximately $100.9 million in total assets and $95.5 million in total deposits was closed. To protect the insured depositors, the FDIC created Deposit Insurance National Bank of McDonough - a new depository institution chartered by the Office of Thrift Supervision (OTS), which will remain open until January 28, 2011.
(PR-010-2011)

Oglethorpe Bank, Brunswick, GA with approximately $230.6 million in total assets and $212.7 million in total deposits was closed. Bank of the Ozarks, Little Rock, AR has agreed to assume all deposits excluding certain brokered deposits.
(PR-006-2011)

Legacy Bank, Scottsdale, AZ with approximately $150.6 million in total assets and $125.9 million in total deposits was closed. Enterprise Bank & Trust, Clayton, MO has agreed to assume all deposits.
(PR-003-2011)

First Commercial Bank of Florida, Orlando, FL with approximately $598.5 million in total assets and $529.6 million in total deposits was closed. First Southern Bank, Boca Raton, FL has agreed to assume all deposits excluding certain brokered deposits.
(PR-002-2011)

millions and billions, oh my!

Stacking up like cordwood. Thanks for the updates.