Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
FDIC ClosesThree Banks
WASHINGTON (2/23/13)--The Federal Deposit Insurance Corp. announced that three U.S. banks were closed last week and their assets assumed by other banks. The three failures bring this year's total to eight.

First Federal Bank, Lexington, Ky., was assumed by Your Community Bank, New Albany, Ind. As of Dec. 31, First Federal had roughly $100.1 million in total assets and $93.9 million in total deposits. The FDIC estimates the failure will cost to the Deposit Insurance Fund $9.7 million.

Heritage Bank of North Florida, Orange Park, Fla., was assumed by First Atlantic Bank, Jacksonville, Fla. The cost of the failure will be $30.2 million, the FDIC estimates. Heritage Bank of North Florida had about $110.9 million in total assets and $108.5 in total deposits as of Dec. 31.

Chipola Community Bank, Marianna, Fla., was assumed by First Federal Bank of Florida, Lake City, Fla. Chipola Community Bank had about $39.2 million in total assets and $37.6 million in total deposits as of Dec. 31. The failure will cost the Deposit Insurance Fund $10.3 million, the FDIC said.
RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
15 hours ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
16 hours ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
16 hours ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
17 hours ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
18 hours ago