Another Top 40 Failure

Thirtieth-ranked 1^st Regents Bank of Andover, Minnesota was closed today by the Minnesota Department of Commerce. The approximately $50.2 million in total assets of the former bank were acquired by First Minnesota Bank (5478th) of Minnetonka, Minnesota. In addition, First Minnesota bank assumed the $49.1 million in total deposits of the former 1^st Regents Bank. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $10.5 million.

Number Four Bank Fails

After  a month-long vacation, the protectors of the safety and soundness of commercial banking were back at work closing the fourth-ranked Westside Community Bank of University Place, Washington. To protect the depositors, Sunwest Bank (4735th) of Irvine, California, agreed to assume all of the approximately $96.5 million in total deposits. In addition, they agreed to acquire the approximately  $97.7 million in total assets of the former Westside Community Bank. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $20.3 million.

No New Failures

As of 7:40 pm EST there have been no failures. The Bank Blog will be updated throughout the evening as new information arrives.

No New Failures

As of 6:05 pm EST there have been no failures. The Bank Blog will be updated throughout the evening as new information arrives.

No New Failures

As of 5:25 pm EST there have been no failures. The Bank Blog will be updated throughout the evening as new information arrives.

Sixth-Ranked is the First to Fail

Sixth-ranked, Community Bank of the Ozarks of Sunrise Beach, Missouri is the first bank of our newest listing to be seized by regulators. The Bank of Sullivan (2416th) in the town of Sullivan, Missouri, has agreed to assume all of the $41.9 million in total deposits of Community Bank of the Ozarks. In addition, Community Bank of the Ozarks had approximately and  deposits. In addition, the FDIC and Bank of Sullivan entered into a loss-share transaction on $37.3 million of the $42.8 million in total assets purchased from the former Community Bank of the Ozarks. The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $10.4 million.

No New Failures

As of 6:00 pm EST there have been no failures. However, please take a look at our brand new rankings below that were also posted today. The Bank Blog will be updated throughout the evening as new information arrives.