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Friday Bank Failures And The FDIC December 2010 Enforcement Actions

Friday, January 28, 2011 - 4:04 PM
The bank closings are starting early today.

From the FDIC press release:
The First State Bank, Camargo, Oklahoma, was closed today by the Oklahoma State Banking Department, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Bank 7, Oklahoma City, Oklahoma, to assume all of the deposits of The First State Bank.

I'll have my full report of all Friday bank failures later this evening.

One interesting thing to note is that the FDIC just made its consent order against First State Bank public today in its release of December Enforcement Actions. Another bank on this list was First Southern Bank, Batesville, AR which failed on December 17th.
2
Ken TuminKen Tumin5,467 posts since
Nov 29, 2009
Rep Points: 124,996
1. Friday, January 28, 2011 - 9:24 PM
Interesting that this is the second week in a row that bank failed which wasn't rated 0* by Bauer. First State Bank was rated 2*!
2
dewandewan4 posts since
Jan 23, 2011
Rep Points: 21
2. Friday, January 28, 2011 - 10:15 PM
Yes, and I'm afraid we had even a higher health score for this bank. I discussed this in my bank failure review
2
Ken TuminKen Tumin5,467 posts since
Nov 29, 2009
Rep Points: 124,996
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