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, August 12, 2011
Regulators Remove Another Top 40
13th ranked First National Bank of Olathe of Olathe, Kansas, was closed today by the Office of the Comptroller of the Currency. The assets of about $538.1 million in total assets and $524.3 million in deposits have been assumed by Enterprise Bank & Trust (1183rd) of Clayton, Missouri. The FDIC and Enterprise Bank & Trust entered into a loss-share transaction on $419.6 million of First National Bank of Olathe's assets. This was Enterprise's third acquisition since the beginning of the crises and the first located outside of Arizona greatly expanding the bank's service area. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $116.6 million.
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