Using cutting edge research, this blog predicts and comments on the probability of failure for the nearly 7000 regulated banks monitored by the Federal Reserve. While most depositors may be protected by the FDIC, the importance of bank survival is still very important to bank clientele with lines of credit, mortgages, loans or other forms of financing. We seek to inform people that they might be at risk.
Friday, February 25, 2011
A Quiet Week for Banks
After several weeks of multiple closures, authorities have only closed one bank this Friday. 13th ranked Valley Community Bank of St. Charles, IL was closed today by the Illinois Department of Financial and Professional Regulation – Division of Banking. Valley Community had approximately $123.8 million in total assets and $124.2 million in total deposits. First State Bank (3846th) of Mendota, IL has agreed to assume all deposits. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $22.8 million.
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