Bank failure Friday

March 19, 2010

Three more in Georgia….

#37

—Failed bank: State Bank of Aurora, Aurora, MN
—Regulator: Minnesota Department of Commerce
—Acquiring bank: Northern State Bank, Ashland, WI
—Vitals: assets of $28.2 million, deposits $27.8 million
—Transaction: loss share on $21.3 million of assets
—Estimated DIF damage: $4.2 million

#36

—Failed bank: First Lowndes Bank, Fort Deposit, AL
—Regulator: Alabama Banking Department
—Acquiring bank: First Citizens Bank, Luverne, AL
—Vitals: assets of $137.2 million, deposits $131.1 million
—Transaction: loss share on $104.1 million of assets
—Estimated DIF damage: $38.3 million

#35

—Failed bank: Bank of Hiawassee, Hiawassee, GA
—Regulator: Georgia Department of Banking and Finance
—Acquiring bank: Citizens South Bank, Gastonia, North Carolina
—Vitals: assets of $377.8 million, deposits $339.6 million
—Transaction: loss share on $232.6 million of assets
—Estimated DIF damage: $137.7 million

#34

—Failed bank: Appalachian Community Bank, Ellijay GA
—Regulator: Georgia Department of Banking and Finance
—Acquiring bank: Community and Southern Bank, Carrollton GA
—Vitals: assets of $1.01 billion, deposits $917.6 million
—Transaction: loss share on $798.6 million of assets
—Estimated DIF damage: $419.3 million

#33

—Failed bank: Advanta Bank, Draper UT
—Regulator: Utah Department of Financial Institutions
—Acquiring bank: None
—Vitals: assets of $1.6 billion, deposits $1.5 billion
—Transaction: Payout
—Estimated DIF damage: $635.6 million

#32

—Failed bank: Century Security Bank, Duluth GA
—Regulator: Georgia Department of Banking and Finance
—Acquiring bank: Bank of Upson, Thomaston GA
—Vitals: assets of $96.5 million, deposits of $94.0 million
—Transaction: loss share on $81.5 million of assets
—Estimated DIF damage: $29.9 million

#31

—Failed bank:American National Bank, Parma OH
—Regulator: OCC
—Acquiring bank: National Bank and Trust Co, Wilmington OH
—Vitals: assets of $70.3 million, deposits of $66.8 million
—Transaction: loss share on $49.8 million of assets
—Estimated DIF damage: $17.1 million

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