The FDIC was back in force this week. Four banks were added to the FDIC Failed Bank List, though three were grouped into one action:
Granite Community Bank, N.A., Granite Bay, CA - $94.2 million in total deposits and an estimated hit to the Deposit Insurance Fund (DIF) of $17.3 million. This resolution required a loss-share agreement between the FDIC and Tri Counties Bank on $89.3 million of Granite Community Bank, N.A.’s assets.
Bank of Florida - Tampa Bay, Tampa, FL - Total deposits of $224.0 million and an estimated hit to the DIF of $40.3 million. This required a loss-share agreement between the FDIC and EverBank on $210.8 million of Bank of Florida - Tampa Bay’s assets.
Bank of Florida - Southwest, Naples, FL - Total deposits of $559.9 million and an estimated hit to the DIF of $91.3 million million. This required a loss-share agreement between the FDIC and EverBank on $568.1 million of Bank of Florida - Southwest’s assets.
Bank of Florida - Southeast, Ft. Lauderdale, FL - Total deposits of $531.7 million and an estimated hit to the DIF of $71.4 million. This required a loss-share agreement between the FDIC and EverBank on $437.3 million of Bank of Florida - Southeast’s assets.
All of the banks will reopen on Tuesday. This brings the bank failure count up to 77 for the year.
With that, I’m off to spend the long weekend with my future in-laws. I wish everyone a terrific weekend.
