by Calculated Risk on 7/26/2008 02:57:00 AM
Saturday, July 26, 2008
Two FDIC Insured Banks Fail
From the FDIC: Failed Bank Information
First National Bank of Nevada, Reno, NV
First Heritage Bank, N.A., Newport Beach, CA
As of June 30, 2008, First National of Nevada had total assets of $3.4 billion and total deposits of $3.0 billion. First Heritage Bank had total assets of $254 million and total deposits of $233 million.I go away for a few days and two banks fail!
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The cost of the transactions to the Deposit Insurance Fund is estimated to be $862 million.