After an unexpectedly long pause in bank closings, this week bring with it the first three shutdowns of the new year.
Sixth ranked Central Florida
State Bank of Belleview, Florida, was the first bank to close in 2012. The bank's assets and deposits were assumed by CenterState Bank
of Florida, National Association, of Winter Haven, Florida. This is the fifth such acquisition for CenterState who are currently ranked as the 1717th most risky bank on our list. As of the most recently available accounting, Central Florida State Bank had
approximately $79.1 million in total assets and $77.7 million in total
deposits. Of these assets, the FDIC and CenterState Bank of Florida , National Association
entered into a loss-share transaction on $53.6 million of Central
Florida State Bank's assets. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF)
will be $24.4 million.
13th ranked The First State
Bank of Stockbridge, Georgia, also failed this week. The former bank's approximately
$536.9 million in total assets and $527.5 million in total deposits were taken over
Hamilton State Bank of Hoschton, Georgia. This is the third acquisition for CenterState who are currently ranked as the 2278th most risky bank on our list. The FDIC and Hamilton State Bank entered into a loss-share
transaction on $419.5 million of The First State Bank's assets. The FDIC estimates that the cost to the DIF
will be $216.2 million.
American Eagle Savings Bank of Boothwyn, Pennsylvania, was also closed today by the Office of the Comptroller of the Currency. The small savings bank, with approximately $19.6 million in total assets and $17.7 million in total deposits was taken over by Capital Bank, National Association of Rockville, Maryland. This is the second acquisition for Capital Bank who currently rank as the 2111th most risky bank on our list. The FDIC estimates that the costs to the DIF will be $3.2 million.
American Eagle Savings Bank of Boothwyn, Pennsylvania, was also closed today by the Office of the Comptroller of the Currency. The small savings bank, with approximately $19.6 million in total assets and $17.7 million in total deposits was taken over by Capital Bank, National Association of Rockville, Maryland. This is the second acquisition for Capital Bank who currently rank as the 2111th most risky bank on our list. The FDIC estimates that the costs to the DIF will be $3.2 million.
