Out of the $76 million in total deposits, about $14 million in 269 accounts exceeded the FDIC limits. According to the FDIC:
While these customers will have access to their insured deposits, they will become creditors of the receivership for the amount of their uninsured funds. The FDIC will retain all of Miami Valley's assets for later disposition.
Perhaps many people just let their accounts build up over the years and forget about checking on it. Even if these depositors didn't want to move their money to other banks, they could have at least structured the accounts as joint accounts or revocable trust accounts to increase FDIC coverage. However, I wonder if this $14 million that the FDIC estimated has been checked for revocable trust accounts. According to this FDIC Q&A, accounts with over $100K may require review by an FDIC Claim Agent.
According to the FDIC the bank "was found to be in an unsafe condition." The Ohio Department of Commerce has additional details. The bank did have the lowest Safe & Sound star rating (1 out of 5) atBankrate.com.
Last Friday, NetBank was closed (see post). This is the third bank to fail this year. The first one was in Pennsylvania and was a lot like this Ohio bank (see post).
This FDIC page has the full details about the closure.