No New Failures

As of 11:45 pm EST there have been no bank failures.  The Bank Blog will be updated throughout the evening as new information arrives.

95th ranked Fidelity Bank of Dearborn, Michigan, was closed today by the Michigan Office of Financial and Insurance Regulation. The Huntington National Bank of Columbus, Ohio, agreed to assume the approximately $818.2 million in total assets and $747.6 million in total deposits. Huntington is a relatively weak bank itself.  It ranks 468th worst on the current list. This is the second failed bank purchase for the bank having previously acquired Warren Bank of Warren, Michigan in October, 2009. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $92.8 million.