by Calculated Risk on 6/15/2012 06:16:00 PM

Liquidity floods
Oceans boil with cheap money
Still banks submerging
by Soylent Green is People
From the FDIC: Harbor Community Bank, Indiantown, Florida, Assumes All of the Deposits of Putnam State Bank, Palatka, Florida

As of March 31, 2012, Putnam State Bank had approximately $169.5 million in total assets and $160.0 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $37.4 million. ... Putnam State Bank is the 29th FDIC-insured institution to fail in the nation this year, and the fourth in Florida.

From the FDIC: Fidelity Bank, Atlanta, Georgia, Assumes All of the Deposits of Security Exchange Bank, Marietta, Georgia

As of March 31, 2012, Security Exchange Bank had approximately $151.0 million in total assets and $147.9 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $34.3 million. ... Security Exchange Bank is the 30th FDIC-insured institution to fail in the nation this year, and the fifth in Georgia.

From the FDIC: Clayton Bank and Trust, Knoxville, Tennessee, Assumes All of the Deposits of the Farmers Bank of Lynchburg, Lynchburg, Tennessee

As of March 31, 2012, The Farmers Bank of Lynchburg had approximately $163.9 million in total assets and $156.4 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $28.3 million. ... The Farmers Bank of Lynchburg is the 31st FDIC-insured institution to fail in the nation this year, and the third in Tennessee.

That makes seven failed banks in two weeks (so far) - feels like old times!