Bank Failures #10 & 11 in 2014: Two Valley Banks

From the FDIC: Great Southern Bank, Reeds Spring, Missouri, Assumes All of the Deposits of Valley Bank, Moline, Illinois

As of March 31, 2014, Valley Bank had approximately $456.4 million in total assets and $360.0 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $51.4 million. ... Valley Bank is the 10th FDIC-insured institution to fail in the nation this year, and the third in Illinois.

From the FDIC: Landmark Bank, National Association, Fort Lauderdale, Florida, Assumes All of the Deposits of Valley Bank, Fort Lauderdale, Florida

As of March 31, 2014, Valley Bank had approximately $81.8 million in total assets and $66.5 million in total deposits. ... The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $7.7 million. ... Valley Bank is the 11th FDIC-insured institution to fail in the nation this year, and the first in Florida.

A two for Friday!