by Calculated Risk on 11/05/2010 06:47:00 PM

K Street Lobbyists
Plenipotentiaries
Could not save K Bank
by Soylent Green is People
From the FDIC: Manufacturers and Traders Trust Company (M&T Bank), Buffalo, New York, Assumes All of the Deposits of K Bank, Randallstown, Maryland

As of September 30, 2010, K Bank had approximately $538.3 million in total assets and $500.1 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $198.4 million. ... K Bank is the 140th FDIC-insured institution to fail in the nation this year, and the fourth in Maryland.

One down today ...