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 13, 2013
Number Four Fails
For the first time in nearly two months, regulators decided to shut down a bank. Fourth-ranked Texas Community Bank, N.A. of The Woodlands, Texas, was closed today by the Office of the Comptroller of the Currency. Spirit of Texas Bank, SSB (4230th) of College Station, Texas, has agreed to acquire $147.9 million of the failed bank's approximately $160.1 million in total assets. In addition, they will assume $142.6 million in total deposits. The FDIC will retain the remaining assets for later disposition.The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $10.8 million.
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