Otros Tres Bancos Liquidados por los Destroyer.
Cómo no luchen por la Independencia Financiera, como decís Jesucristo, después del Verano esto será un llanto y crujir de Dientes.
Regulators seized three banks Friday in Florida and Oregon, increasing the number of 2009 U.S. bank failures to 72.
Stearns Bank of St. Cloud, Minn. agreed to take deposits and most assets from the two Florida institutions, Community National Bank of Sarasota County in Venice, Fla. and First State Bank in Sarasota, Fla. Both Gulf Coast banks collapsed due to risky loans made during the housing boom and were severely undercapitalized near the end.
Home Federal Bank of Nampa, Idaho, took deposits and most assets from the failed Community First Bank of Prineville, Ore.
For Stearns Financial Services Inc., a Midwest bank holding company with more than $1 billion in assets, these purchases represent its fourth and fifth such pickups of the financial crisis. In October 2008 it purchased $346 million in deposits from the failed Alpha Bank & Trust in Alpharetta, Ga., in January it was awarded a $730 million pool of loans once belonging to the failed First National Bank of Nevada and in June it assumed deposits and most assets of the tiny Horizon Bank in Pine City, Minn.
With Friday's failures, Stearns agreed to purchase Community National Bank's $93 million in deposits and $94 million out of $97 million in assets. Community National Bank had four offices. The FDIC and Stearns Bank agreed to share future losses on $79 million in assets. The estimated cost to the FDIC insurance fund is $24 million.
In the case of First State, which had nine branches, Stearns agreed to buy $387 million in deposits and decided not to take $8 million in brokered deposits. It also agreed to purchase $451 million out of a total $463 million in assets and entered into a loss-sharing agreement on $364 million of those assets. The estimated loss to the FDIC fund is $116 million.
The banks are the fifth and sixth to fail in Florida this year. Both were established in 1988.
Community First is the third Oregon bank to go down this year. Home Federal Bank took $182 million of its deposits, leaving $31 million in brokered deposits, and $197 million of its $209 million in assets, with a loss-sharing agreement covering $155 million of those assets. The cost to the FDIC fund was $45 million.
The number of U.S. bank failures this year is the most since 1992, when 179 institutions went under.
Cómo no luchen por la Independencia Financiera, como decís Jesucristo, después del Verano esto será un llanto y crujir de Dientes.
Regulators seized three banks Friday in Florida and Oregon, increasing the number of 2009 U.S. bank failures to 72.
Stearns Bank of St. Cloud, Minn. agreed to take deposits and most assets from the two Florida institutions, Community National Bank of Sarasota County in Venice, Fla. and First State Bank in Sarasota, Fla. Both Gulf Coast banks collapsed due to risky loans made during the housing boom and were severely undercapitalized near the end.
Home Federal Bank of Nampa, Idaho, took deposits and most assets from the failed Community First Bank of Prineville, Ore.
For Stearns Financial Services Inc., a Midwest bank holding company with more than $1 billion in assets, these purchases represent its fourth and fifth such pickups of the financial crisis. In October 2008 it purchased $346 million in deposits from the failed Alpha Bank & Trust in Alpharetta, Ga., in January it was awarded a $730 million pool of loans once belonging to the failed First National Bank of Nevada and in June it assumed deposits and most assets of the tiny Horizon Bank in Pine City, Minn.
With Friday's failures, Stearns agreed to purchase Community National Bank's $93 million in deposits and $94 million out of $97 million in assets. Community National Bank had four offices. The FDIC and Stearns Bank agreed to share future losses on $79 million in assets. The estimated cost to the FDIC insurance fund is $24 million.
In the case of First State, which had nine branches, Stearns agreed to buy $387 million in deposits and decided not to take $8 million in brokered deposits. It also agreed to purchase $451 million out of a total $463 million in assets and entered into a loss-sharing agreement on $364 million of those assets. The estimated loss to the FDIC fund is $116 million.
The banks are the fifth and sixth to fail in Florida this year. Both were established in 1988.
Community First is the third Oregon bank to go down this year. Home Federal Bank took $182 million of its deposits, leaving $31 million in brokered deposits, and $197 million of its $209 million in assets, with a loss-sharing agreement covering $155 million of those assets. The cost to the FDIC fund was $45 million.
The number of U.S. bank failures this year is the most since 1992, when 179 institutions went under.
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