by Calculated Risk on 10/19/2012 06:40:00 PM

You’re movin’ on up
Said the Feds to East Side Bank
To a deluxe Stearns.
by Soylent Green is People
From the FDIC: Stearns Bank National Association, St. Cloud, Minnesota, Assumes All of the Deposits of First East Side Savings Bank, Tamarac, Florida

As of June 30, 2012, First East Side Savings Bank had approximately $67.2 million in total assets and $65.9 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $9.1 million. ... First East Side Savings Bank is the 45th FDIC-insured institution to fail in the nation this year, and the seventh in Florida.

Two down today.