Apparently the FDIC is attempting to sneak a few bank closings past the public/media eye while the country focuses on the debt ceiling hike shenanigans.
The FDIC announced tonight the closing of 5 US banks:
Bank Meridian- S.C. $239.8 million in total assets and $215.5 million in total deposits
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $65.4 million.
Press Release:
Virginia Business Bank- VA $95.8 million in total assets and $85.0 million in total deposits.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $17.3 million.
Press Release:
Bank of Choice- CO $1.07 billion in total assets and $924.9 million in total deposits.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $213.6 million.
Press Release:
Southshore Community Bank-FL; Landmark Bank of Florida-FL 2 for 1 Combo:
Southshore Community Bank had approximately $46.3 million in total assets and $45.3 million in total deposits; and LandMark Bank of Florida had total assets of $275.0 million and total deposits of $246.7 million.
The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for Southshore Community Bank will be $8.3 million and for LandMark Bank of Florida, $34.4 million.
Press Release:
This makes 60 FDIC insured banks to bite the dust so far in 2011.
