Bank failure Friday

January 16, 2010

The year has started off slowly: Only 4 closings the first half of January. Expect FDIC to pick up the pace…

#2

  • Failed bank: Town Community Bank & Trust, Antioch IL
  • Acquiring bank: First American Bank, Elk Grove Village IL
  • Vitals: as of 9/30, assets of $69.6m, deposits of $67.4m
  • Estimated DIF damage: $17.8m

#3

  • Failed bank: St. Stephen State Bank, St. Stephen MN
  • Acquiring bank: First State Bank of St. Joseph, St. Joseph MN
  • Vitals: as of 9/30, assets of $24.7m, deposits of $23.4m
  • Estimated DIF damage: $7.4m

#4

  • Failed bank: Barnes Banking Co, Kaysville UT
  • Acquiring bank: None.
  • Vitals: as of 9/30, assets of $827.8m, deposits of $786.5m
  • Estimated DIF damage: $271.3m

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