Bank Failure Friday
It has turned out to be a Friday true to form, and three banks have been added to the FDIC Failed Bank List:
First National Bank of Anthony, Anthony, KS — Total deposits of $142.5 million and an estimated hit to the FDIC fund of $32.2 million.
Cooperative Bank, Wilmington, NC — Total deposits of approximately $774 million and an estimated cost to the Deposit Insurance Fund of $217 million.
Southern Community Bank Fayetteville, GA — Total deposits of approximately $307 million and an estimated cost to the FDIC fund of $114 million.
All three banks had deposits acquired by other banks (this is the happiest option for depositors). Looks like a hat trick tonight.
