24th-Ranked Bank of Wausau Fails

This week the 24th-ranked Bank of Wausau in Wausau, Wisconsin was closed by state regulators. Nicolet National Bank (2514th) of Green Bay, Wisconsin agreed to assume all of the approximately $40.7 million in total deposits. In addition, they agreed to purchase approximately $29.9 million of the failed bank's $43.6 million in total assets. The FDIC will retain the remaining assets for later disposition. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $13.5 million.