by Calculated Risk on 7/22/2011 06:10:00 PM

Olympian fail
Momentum reversed collapse
Sisyphean task
by Soylent Green is People
From the FDIC: American Momentum Bank, Tampa, Florida, Acquires All the Deposits of Two Florida Banks: Southshore Community Bank, Apollo Beach and LandMark Bank of Florida, Sarasota

As of March 31, 2011, Southshore Community Bank had approximately $46.3 million in total assets and $45.3 million in total deposits; and LandMark Bank of Florida had total assets of $275.0 million and total deposits of $246.7 million. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) for Southshore Community Bank will be $8.3 million and for LandMark Bank of Florida, $34.4 million. ... The closings are the 56th and 57th FDIC-insured institutions to fail in the nation so far this year and the eighth and ninth in Florida.

Friday is here!