Photo Credit: The Hamtramck Review
As of this past
Valentine's Day, the 2011 Failed Bank list has grown to 18.
Thus far, bank failures are on a similar course to 2010, which had 16 failures
at this point in the year.
Regulators on Friday, February 11th, closed four institutions: $390
State Bank of Hamtramck, MI; $125 million-asset Sunshine
State Community Bank of Port Orange, FL; $84 million-asset Badger State
Bank of Cassville, WI. and $211 million-asset Canyon
National Bank of Palm Springs, CA.
The prior week (on Friday, February 4th), regulators closed three institutions:
$238.2 million-asset American
Trust Bank of Roswell, GA; $153.2 million-asset North Georgia
Bank, Watkinsville, GA and $51.1 million-asset Community
The combined total for both weeks closures cost $263.4 million to the Deposit
Insurance Fund. [ FDIC]
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