by Calculated Risk on 11/13/2009 06:08:00 PM

Suited Bureaucrats
Waiting for critical mass
Century flames out

What is that white light?
Orion Supernovas
Hot money burns bright
by Soylent Green is People
From the FDIC: IBERIABANK, Lafayette, Louisiana, Assumes All of the Deposits of Century Bank, Federal Savings Bank, Sarasota, Florida

Century Bank, Federal Savings Bank, Sarasota, Florida, was closed today by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...

As of October 31, 2009, Century Bank, FSB had total assets of $728 million and total deposits of approximately $631 million. ...

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $344 million. ... Century Bank, FSB is the 121st FDIC-insured institution to fail in the nation this year, and the tenth in Florida. The last FDIC-insured institution closed in the state was Flagship National Bank, Bradenton, on November 6, 2009.

From the FDIC: IBERIABANK, Lafayette, Louisiana, Assumes All of the Deposits of Orion Bank, Naples, Florida

Orion Bank, Naples, Florida, was closed today by the Florida Office of Financial Regulation, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. ...

As of October 31, 2009, Orion Bank had total assets of $2.7 billion and total deposits of approximately $2.1 billion. ...

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $615 million. ... Orion Bank is the 122nd FDIC-insured institution to fail in the nation this year, and the eleventh in Florida. The last FDIC-insured institution closed in the state was Century Bank, Sarasota, FL, earlier today.