There are 5 new additions to the FDIC Failed Bank List:
First State Bank, Flagstaff, AZ — Total deposits of approximately $95 million and an estimated hit to the FDIC fund of $47 million.
Platinum Community Bank, Rolling Meadows, IL — Total deposits of $305.0 million and an estimated hit to the FDIC fund of $114.3 million. This is a closure, so people get checks for their insured deposits.
Vantus Bank, Sioux City, IA — Total deposits of approximately $368 million and an estimated hit to the FDIC fund of $168 million. This required another loss share agreement, this one with Great Southern Bank on approximately $338 million of Vantus Bank’s assets. As usual, that leaves the FDIC on the hook for a while.
InBank, Oak Forest, IL — Total deposits of approximately $199 million and an estimated hit to the FDIC fund of $66 million.
First Bank of Kansas City, Kansas City, MO — Total deposits of approximately $15 million and an estimated hit to the FDIC fund of $6 million. Small bank.
Still no word on Corus bank. I’m fairly confident the deadline for bids has passed. I guess we’ll have to wait until next week.
