In Depth Analysis: CalculatedRisk Newsletter on Real Estate (Ad Free) Read it here.

Friday, May 23, 2014

Bank Failure #8 of 2014: Columbia Savings Bank, Cincinnati, Ohio

by Calculated Risk on 5/23/2014 05:19:00 PM

From the FDIC: United Fidelity Bank, fsb, Evansville, Indiana, Assumes All of the Deposits of Columbia Savings Bank, Cincinnati, Ohio

As of March 31, 2014, Columbia Savings Bank had approximately $36.5 million in total assets and $29.5 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $5.3 million. ... Columbia Savings Bank is the eighth FDIC-insured institution to fail in the nation this year, and the first in Ohio.
A bank failure two weeks in a row ... that hasn't happened recently.