by Calculated Risk on 11/16/2012 05:12:00 PM
Friday, November 16, 2012
Bank Failure #50 in 2012: Hometown Community Bank, Braselton, Georgia
Hometown Bank on the buffet
Bad asset stuffing.
by Soylent Green is People
From the FDIC: CertusBank, National Association, Easley, South Carolina, Assumes All of the Deposits of Hometown Community Bank, Braselton, Georgia
As of September 30, 2012, Hometown Community Bank had approximately $124.6 million in total assets and $108.9 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $36.7 million. ... Hometown Community Bank is the 50th FDIC-insured institution to fail in the nation this year, and the tenth in Georgia.There are still banks in Georgia? Ten out of fifty failures this year have been in Georgia.