by Calculated Risk on 1/14/2011 05:23:00 PM
Friday, January 14, 2011
Bank Failure #3 for 2011: Oglethorpe Bank, Brunswick, Georgia
Earlier:
• Retail Sales increased 0.6% in December
• Industrial Production, Capacity Utilization increased in December
• Consumer Sentiment declines in January
• Core measures of inflation increase in December
Surgeons remove rotted flesh
Oglethorpe excised
by Soylent Green is People
From the FDIC: Bank of the Ozarks, Little Rock, Arkansas, Assumes All of the Deposits of Oglethorpe Bank, Brunswick, Georgia
As of September 30, 2010, Oglethorpe Bank had approximately $230.6 million in total assets and $212.7 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $80.4 million. ... Oglethorpe Bank is the third FDIC-insured institution to fail in the nation this year, and the first in Georgia.