1. TierOne Bank, Lincoln, Nebraska, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The 69 branches of TierOne Bank will reopen during normal business hours beginning Saturday as branches of Great Western Bank. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $297.8 million.
2. The Federal Deposit Insurance Corporation (FDIC) approved the payout of the insured deposits of Arcola Homestead Savings Bank, Arcola, Illinois. The bank was closed today by the Illinois Department of Financial Professional Regulation – Division of Banking, which appointed the FDIC as receiver. The FDIC was unable to find another financial institution to take over the banking operations of Arcola Homestead Savings Bank. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3.2 million.
3. First National Bank, Rosedale, Mississippi, was closed today by the Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The sole branch of First National Bank will reopen on Monday as a branch of The Jefferson Bank. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $12.6 million.
Total Bank Closings = 81
Cost to the FDIC (We The People) this week... 313 Million
Cost to the FDIC (We The People) for 2010 thus far ... approx. $17.6 BILLION
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