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, December 14, 2012
Sixth-Ranked is the First to Fail
Sixth-ranked, Community Bank of the Ozarks of Sunrise Beach, Missouri is the first bank of our newest listing to be seized by regulators. The Bank of Sullivan (2416th) in the town of Sullivan, Missouri, has agreed to assume all of the $41.9 million in total deposits of Community Bank of the Ozarks. In addition, Community Bank of the Ozarks had approximately and deposits. In addition, the FDIC and Bank of Sullivan entered into a loss-share transaction on $37.3 million of the $42.8 million in total assets purchased from the former Community Bank of the Ozarks. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $10.4 million.