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, January 16, 2015
First Failure of the New Year
It took two full weeks before the first bank foreclosure of the new year. 59th-ranked First National Bank of Crestview based in Crestview, Florida, was closed by the OCC today. First NBC Bank (1226th), of New Orleans, Louisiana, has agreed to assume all of
the approximately $78.6 million in total
deposits of First National Bank of Crestview. However, it will only acquire approximately approximately $62.0 million of the failed bank's $79.7 million in total assets. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF)
will be $4.4 million.