by Calculated Risk on 6/04/2010 07:06:00 PM

Many tears at Top Tier
How have the mighty fallen.
Free falling from peak.
by Soylent Green is People
From the FDIC: Great Western Bank, Sioux Falls, South Dakota, Assumes All of the Deposits of TierOne Bank, Lincoln, Nebraska

As of March 31, 2010, TierOne Bank had approximately $2.8 billion in total assets and and $2.2 billion in total deposits. ...

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $297.8 million. ... TierOne Bank is the 81st FDIC-insured institution to fail in the nation this year, and the first in Nebraska. The last FDIC-insured institution closed in the state was Sherman County Bank, Loup City, on February 13, 2009.

I guess they weren't top tier ...