First Failure in Two Months

After a remarkable eight weeks without a bank failure, regulators were back in action today shutting down the eighteenth-ranked bank on our list First Community Bank of Southwest Florida. Based in Fort Myers, Florida, and also operating as Community Bank of Cape Coral, the bank was taken over by C1 Bank of Saint Petersburg. The approximately $265.7 million in total assets and $254.2 million of the former First Community Bank of Southwest Florida represents a substantial increase for C1 Bank, which ranks a relatively poor 819th on our list. It suggests that there were few interested suitors for the failed bank. In all, The FDIC estimates that cost to the Deposit Insurance Fund (DIF) will be $27.1 million.