Bank Failure Friday
National Bank of Commerce in Berkeley, IL, became the first bank of 2009 to fail. Here is the FDIC page. I’m sure there will be a post later at Calculated Risk. From the Official Press Release:
As of January 7, 2009, National Commerce Bank had total assets of $430.9 million and total deposits of $402.1 million. In addition to assuming all of the failed bank’s deposits, Republic Bank agreed to purchase approximately $366.6 million in assets at a discount of $44.9 million. The FDIC will retain the remaining assets for later disposition.
The year has now truly begun.
-
robot-heart liked this
-
crazynutjob posted this
