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, November 16, 2012
Another Top 40 Failure
Nineteenth-ranked Hometown Community Bank of Braselton, Georgia, was closed today by the state regulators. CertusBank, N.A. of Easley, South Carolina agreed to purchase essentially all of the $124.6 million in total assets as well as assuming approximately $108.9 million in total deposits.This is the fourth failed bank acquisition for CertusBank 92234th). The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $36.7 million.