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, August 2, 2013
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.
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