Bank failure Friday

December 4, 2009

More Georgia! Update: And AmTrust!  That’s a $2.0 billion hit to the DIF…

#125

  • Failed bank: Buckhead Community Bank, Atlanta GA
  • Acquiring bank: State Bank and Trust, Macon GA
  • Vitals: at 11/6, assets of $878m, deposits of $838m
  • DIF damage: $241.1m

#126

  • Failed bank: First Security National Bank, Norcross GA
  • Acquiring bank: State Bank and Trust, Macon GA
  • Vitals: at 9/30, assets of $128m, deposits of $123m
  • DIF damage: $30.1m

State Bank and Trust also took down $2.4 billion of assets from the estate of failed Security Bank last summer. Before that the bank had just $36m of assets according to American Banker. Talk about rapid expansion!

Update:

#127

  • Failed bank: Tatnall Bank, Reidsville GA
  • Acquiring bank: Heritage Bank of the South, Albany GA
  • Vitals: at 9/30, assets of $49.6m, deposits of $47.3m
  • DIF damage: $13.9m

#128

  • Failed bank: AmTrust Bank, Cleveland OH
  • Acquiring bank: New York Community Bank, Westbury NY
  • Vitals: at 10/27, assets of $12.0 billion, deposits of $8.0 billion
  • DIF damage: $2.0 billion

#129

  • Failed bank: Benchmark Bank, Aurora IL
  • Acquiring bank: MB Financial, Chicago IL
  • Vitals: at 11/16, assets of $170m, deposits of $181m
  • DIF damage: $64m

#130

  • Failed bank: Greater Atlantic Bank, Reston VA
  • Acquiring bank: Sonabank, McLean VA
  • Vitals: at 10/20, assets of $203m, deposits of $179m
  • DIF damage: $35m
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