18th ranked Gulf State Community Bank of Carrabelle, FL was swallowed up by regulators this week. Gulf State closed with approximately $112.1 million in total assets and $112.2 million in total deposits was closed. Centennial Bank (4347th) of Conway, AR has agreed to assume nearly all deposits deposits. This is the 6th bank that Centennial has acquired in the area through closures.
21st ranked First Banking Center (FBC) of Burlington, WI has also been closed this week. On Aug. 17th, FBC received a Prompt Corrective Action from regulators giving them 60 days to shore up their finances. This week their time ran out and the slightly larger bank of approximately $750.7 million in total assets and $664.8 million in total deposits was closed. First Michigan Bank (6477th) of Troy, MI has agreed to assume all deposits.
84th ranked Allegiance Bank of North America from Bala Cynwyd, PA also closed this week. Allegiance had approximately $106.6 million in total assets and $92.0 million in total deposits was closed. VIST Bank (1860th) of Wyomissing, PA has agreed to assume all deposits.
Showing posts with label Centennial Bank. Show all posts
Showing posts with label Centennial Bank. Show all posts
Friday, November 19, 2010
Friday, October 1, 2010
The Feds Claim Two More Banks
Two Top 40 banks were closed by regulators this week.
The first was 20th ranked Wakulla Bank of Crawfordville, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. As of June 30, 2010, Wakulla Bank had approximately $424.1 million in total assets and $386.3 million in total deposits. In addition to assuming all of the deposits of the failed bank, Centennial Bank (ranked 4347th) of Conway, AR agreed to assume nearly all deposits of the failed bank.
The second was 26th ranked Shoreline Bank of Shoreline, Washington. It had approximately $104.2 million in total assets and $100.2 million in total deposits as of the most recent quarter. GBC International Bank (2687th) of Los Angeles, CA has agreed to assume all deposits excluding certain brokered deposits.
The first was 20th ranked Wakulla Bank of Crawfordville, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. As of June 30, 2010, Wakulla Bank had approximately $424.1 million in total assets and $386.3 million in total deposits. In addition to assuming all of the deposits of the failed bank, Centennial Bank (ranked 4347th) of Conway, AR agreed to assume nearly all deposits of the failed bank.
The second was 26th ranked Shoreline Bank of Shoreline, Washington. It had approximately $104.2 million in total assets and $100.2 million in total deposits as of the most recent quarter. GBC International Bank (2687th) of Los Angeles, CA has agreed to assume all deposits excluding certain brokered deposits.
Friday, July 30, 2010
As July Ends So Do Several More Banks
The final week of July brought with it the demise of 5 more small banks. This brings the monthly total to 22, including 7 of the newest Top 25, one of the worst months for closures in recent years. Florida, Georgia, and the Pacific Northwest were all hit again this week:
At 19th on the list (29th overall) Northwest Bank & Trust of Acworth, GA closed this week. It had approximately $167.7 million in total assets and $159.4 million in total deposits was closed. State Bank and Trust Company of Macon, Georgia (5286th) has agreed to assume all deposits, excluding certain brokered deposits.
At 56th, Coastal Community Bank of Panama City Beach, FL closed with approximately $372.9 million in total assets and $363.2 million in total deposits. Centennial Bank of Conway, AR (4158th) has agreed to assume all deposits. Centennial also acquired the deposits of Bayside Savings Bank of Port Saint Joe, FL (not ranked) this week.
At 79th, The Cowlitz Bank of Longview, WA, closed with approximately $529.3 million in total assets and $513.9 million in total deposits. Heritage Bank of Olympia, WA (4413th) has agreed to assume all deposits, excluding certain brokered deposits.
At 92nd, LibertyBank of Eugene, OR with approximately $768.2 million in total assets and $718.5 million in total deposits was closed. Home Federal Bank of Nampa, ID (not ranked) has agreed to assume all deposits.
At 19th on the list (29th overall) Northwest Bank & Trust of Acworth, GA closed this week. It had approximately $167.7 million in total assets and $159.4 million in total deposits was closed. State Bank and Trust Company of Macon, Georgia (5286th) has agreed to assume all deposits, excluding certain brokered deposits.
At 56th, Coastal Community Bank of Panama City Beach, FL closed with approximately $372.9 million in total assets and $363.2 million in total deposits. Centennial Bank of Conway, AR (4158th) has agreed to assume all deposits. Centennial also acquired the deposits of Bayside Savings Bank of Port Saint Joe, FL (not ranked) this week.
At 79th, The Cowlitz Bank of Longview, WA, closed with approximately $529.3 million in total assets and $513.9 million in total deposits. Heritage Bank of Olympia, WA (4413th) has agreed to assume all deposits, excluding certain brokered deposits.
At 92nd, LibertyBank of Eugene, OR with approximately $768.2 million in total assets and $718.5 million in total deposits was closed. Home Federal Bank of Nampa, ID (not ranked) has agreed to assume all deposits.
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