Bank Failures #81 - 83: Georgia and Florida

Bank Failures #81 - 83: Georgia and Florida: Like The Walking Dead

Georgian zombie banks spawning

Our ammo runs low

by Soylent Green is People

From the FDIC: 1st United Bank, Boca Raton, Florida, Assumes All of the Deposits of Old Harbor Bank, Clearwater, Florida

As of June 30, 2011, Old Harbor Bank had approximately $215.9 million in total assets and $217.8 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $39.3 million. ... Old Harbor Bank is the 81st FDIC-insured institution to fail in the nation this year, and the twelfth in Florida.

From the FDIC: Fidelity Bank, Atlanta, Georgia, Assumes All of the Deposits of Decatur First Bank, Decatur, Georgia

As of June 30, 2011, Decatur First Bank had approximately $191.5 million in total assets and $179.2 million in total deposits ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $32.6 million. ... Decatur First Bank is the 82nd FDIC-insured institution to fail in the nation this year, and the twenty-first in Georgia.

From the FDIC: State Bank and Trust Company, Macon, Georgia, Assumes All of the Deposits of Community Capital Bank, Jonesboro, Georgia

As of June 30, 2011, Community Capital Bank had approximately $181.2 million in total assets and $166.2 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $62.0 million. ... Community Capital Bank is the 83rd FDIC-insured institution to fail in the nation this year, and the twenty-second in Georgia.

Three more today - so far - and 22 in Georga this year!