Bank Failure Friday
I’m a bit off due to a night at the pub (it’s now technically Saturday). But this is the first Friday of failures in a few weeks. Only one bank was added to the FDIC Failed Bank List. Horizon Bank of Bradenton, FL has failed. Horizon had $164.6 million in total deposits and will bring an estimated loss to the Deposit Insurance Fund of $58.9 million. The deal required a loss-share agreement between the FDIC and Bank of the Ozarks on $150.4 million of Horizon Bank’s assets.
This was the 119th bank failure of the year.
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