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2009 Bank Failures were 140, 2010 YTD is 149
Bank Failure Friday: No FDIC Closures!
The 2010 USA bank failures remain at 149 with no FDIC closings on Friday, November 26, 2010. This was expected since it is the Thanksgiving holiday. The 149 closings in 2010 exceed the 2009 total of 140.
Prior Week Bank Closings (Friday, November 19, 2010)
Total assets of the closed banks were $969,400,000 ($969.4 million), based on the September 30, 2010 call reports (regulatory financial statements). All 3 banks were merged via purchase and assumption agreements into other banks.
Prior Week Bank Closings (Friday, November 19, 2010)
Total assets of the closed banks were $969,400,000 ($969.4 million), based on the September 30, 2010 call reports (regulatory financial statements). All 3 banks were merged via purchase and assumption agreements into other banks.
Overall, two were small community banks, of just over $100 million in total assets, that were closed by the FDIC. First Banking Center was larger with $750.7 million in total assets and a moderate size community bank.
#147 Gulf State Community Bank, Carrabelle, FL
As of September 30, 2010, Gulf State Community Bank had approximately $112.1 million in total assets
Centennial Bank, Conway, Arkansas, to assume all of the deposits
Centennial Bank agreed to purchase essentially all of the assets
#148 Allegiance Bank of North America, Bala Cynwyd, PA
As of September 30, 2010, Allegiance Bank of North America had approximately $106.6 million in total assets
VIST Bank, Wyomissing, Pennsylvania, to assume all of the deposits
VIST Bank agreed to purchase essentially all of the assets
#149 First Banking Center, Burlington, WI
As of September 30, 2010, First Banking Center had approximately $750.7 million in total assets
First Michigan Bank, Troy, Michigan, to assume all of the deposits
First Michigan Bank agreed to purchase essentially all of the failed bank's assets
The next FDIC bank closings, if any, will most likely be announced on Friday, December 3.
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