FDIC Fridays! Seven More Banks Fail!!!!!

[Copper Catcher]

First Arizona Savings, A FSB Scottsdale AZ 32582

Hillcrest Bank Overland Park KS 22173

First Suburban National Bank Maywood IL 16089

The First National Bank of Barnesville Barnesville GA 2119

The Gordon Bank Gordon GA 33904

Progress Bank of Florida Tampa FL 32251

First Bank of Jacksonville Jacksonville FL 27573

http://www.fdic.gov/bank/individual/fai ... klist.html

[beauanderos]

There's a few First's for you! I count more than five tho

[HoardCopperByTheTon]

Whoohoo!!!! None of my banks were on the closing list this week!

[Delawhere Jack]

Onlly 7 more on the 29th.... Guess their holding back until after the election.

[Copper Catcher]

While no other banks were listed on Friday October 29th

I realize I missed an important fact earlier that needs to be mentioned:

No other bank picked up the assets of First Arizona Savings that was previously listed last Friday.

This is the first listing ever where no other bank has acquired the assets of a failed bank!
After looking closely you will see in the press release there is a whopping $5.8 million in uninsured funds!!!! Someone will not be happy...Can you say screwed!

Source: http://www.fdic.gov/news/news/press/2010/pr10237.html

As of June 30, 2010, First Arizona Savings, A FSB had approximately $272.2 million in total assets and $198.8 million in total deposits. At the time of closing, the bank had an estimated $5.8 million in uninsured funds. This amount is an estimate that is likely to change once the FDIC obtains additional information from the bank's customers.

[Delawhere Jack]

While no other banks were listed on Friday October 29th

I realize I missed an important fact earlier that needs to be mentioned:

No other bank picked up the assets of First Arizona Savings that was previously listed last Friday.

This is the first listing ever where no other bank has acquired the assets of a failed bank! After looking closely you will see in the press release there is a whopping $5.8 million in uninsured funds!!!! Someone will not be happy...Can you say screwed!

Source: http://www.fdic.gov/news/news/press/2010/pr10237.html

As of June 30, 2010, First Arizona Savings, A FSB had approximately $272.2 million in total assets and $198.8 million in total deposits. At the time of closing, the bank had an estimated $5.8 million in uninsured funds. This amount is an estimate that is likely to change once the FDIC obtains additional information from the bank's customers.

Forget where I read it, probably on zerohedge, but this has apparently already been happening in Illinios. No takers for the dead bank carcasses...