Bank Failure Friday
Only one bank was added to the FDIC Failed Bank List. Bank of Wyoming, of Thermopolis, WY failed.
As of June 30, 2009, Bank of Wyoming had total assets of $70 million and total deposits of approximately $67 million. In addition to assuming all of the deposits of the failed bank, Central Bank and Trust agreed to purchase approximately $55 million of assets. The FDIC will retain any remaining assets for later disposition.
Central Bank & Trust will purchase all deposits, except about $8 million in brokered deposits, held by Bank of Wyoming. The FDIC will pay the brokers directly for the amount of their funds.
The estimated hit to the FDIC fund is $27 million.
