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, September 30, 2011
Another Top Ten Failure
Today, eight-ranked First International Bank of Plano, Texas, was closed today by the Texas Department of Banking. The approximately $239.9 million in total assets and $208.8 million in total deposits from First International Bank were taken over by American First National Bank (4021st) of Houston, Texas. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $53.8 million.
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