by Calculated Risk on 1/20/2012 05:08:00 PM

New year, same pattern.
Florida, Georgian failures
Wash, then rinse, repeat
by Soylent Green is People
From the FDIC: CenterState Bank of Florida, National Association, Winter Haven, Florida, Assumes All of the Deposits of Central Florida State Bank, Belleview, Florida

As of September 30, 2011, Central Florida State Bank had approximately $79.1 million in total assets and $77.7 million in total deposits ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $24.4 million. ... Central Florida State Bank is the first FDIC-insured institution to fail in the nation this year, and the first in Florida.

From the FDIC: Hamilton State Bank, Hoschton, Georgia, Assumes All of the Deposits of the First State Bank, Stockbridge, Georgia

As of September 30, 2011, The First State Bank had approximately $536.9 million in total assets and $527.5 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $216.2 million. ... The First State Bank is the second FDIC-insured institution to fail in the nation this year, and the first in Georgia.

And so it begins in 2012.