Eleventh Ranked Bank Fails

After a months-long holiday from bank closings regulators shut down First Commercial Bank of Bloomington, Minnesota today. The eleventh worst bank on the newest Bank Blog list, the $215.9 million bank by assets and $206.8 million in total deposits was taken over by Republic Bank & Trust Company of Louisville, Kentucky (6941st). This is the second acquisition for Republic after obtaining the operations of Tennessee Commerce Bank earlier this year.The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for this failure will be $63.9 million.