1. High Desert State Bank, Albuquerque, New Mexico, was closed today by the New Mexico Financial Institutions Division, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The two branches of High Desert State Bank will reopen on Monday as branches of First American Bank. Depositors of High Desert State Bank will automatically become depositors of First American Bank. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $20.9 million.
2. First National Bank, Savannah, Georgia, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The four branches of First National Bank will reopen on Monday as branches of The Savannah Bank, N.A. Depositors of First National Bank will automatically become depositors of The Savannah Bank, N.A. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $68.9 million.
3. Peninsula Bank, Englewood, Florida, was closed today by the Florida Division of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The 13 branches of Peninsula Bank will reopen during normal business hours on Saturday as branches of Premier American Bank. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $194.8 million.
So, there was 3 bank closings with 19 branches affected.
Total Bank Closings (year-to-date) = 86
Cost to the FDIC (We The People) this week... $284.6 million
Cost to the FDIC (We The People) for 2010 thus far ... approx. $18.1 BILLION
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