by Calculated Risk on 10/15/2010 06:16:00 PM

Banking Titanic
Collides with the Hindenburg
It's really that bad.
by Soylent Green is People
From the FDIC: Simmons First National Bank, Pine Bluff, Arkansas, Assumes All of the Deposits of Security Savings Bank, F.S.B., Olathe, Kansas

As of June 30, 2010, Security Savings Bank, F.S.B. had approximately $508.4 million in total assets and $397.0 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $82.2 million. .... Security Savings Bank, F.S.B. is the 130th FDIC-insured institution to fail in the nation this year, and the second in Kansas.

From the FDIC: Midland States Bank, Effingham, Illinois, Assumes All of the Deposits of WestBridge Bank and Trust Company, Chesterfield, Missouri

As of June 30, 2010, WestBridge Bank and Trust Company had approximately $91.5 million in total assets and $72.5 million in total deposit ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $18.7 million. ... WestBridge Bank and Trust Company is the 131st FDIC-insured institution to fail in the nation this year, and the fifth in Missouri.

The FDIC is back to work ...