by Calculated Risk on 6/08/2012 06:08:00 PM

Farmers and Traders?
What the hell’s a Waccamaw?
Carolina too?
by Soylent Green is People
From the FDIC: Bank of North Carolina, Thomasville, North Carolina, Assumes All of the Deposits of Carolina Federal Savings Bank, Charleston, South Carolina

As of March 31, 2012, Carolina Federal Savings Bank had approximately $54.4 million in total assets and $53.1 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $15.2 million. ... Carolina Federal Savings Bank is the 26th FDIC-insured institution to fail in the nation this year, and the second in South Carolina.

From the FDIC: First State Bank, Mendota, Illinois, Assumes All of the Deposits of Farmers and Traders State Bank, Shabbona, Illinois

As of March 31, 2012, Farmers and Traders State Bank had approximately $43.1 million in total assets and $42.3 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $8.9 million. ... Farmers and Traders State Bank is the 27th FDIC-insured institution to fail in the nation this year, and the second in Illinois.

From the FDIC: First Community Bank, Bluefield, Virginia, Assumes All of the Deposits of Waccamaw Bank, Whiteville, North Carolina

As of March 31, 2012, Waccamaw Bank had approximately $533.1 million in total assets and $472.7 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $51.1 million. ... Waccamaw Bank is the 28th FDIC-insured institution to fail in the nation this year, and the first in North Carolina.

That makes four so far today.