Government regulators shut down four banks earlier this afternoon, making it seven so far in 2011. Details below. I’ll update with new posts if there are other closures before I leave today.
No. 4 Enterprise Banking Co., McDonough, Ga. was shut down by government regulators and was not turned over to another bank. Estimated cost to the FDIC: $39.6 million.
No. 5 Community South Bank and Trust of Easley, S.C., was shut down, then taken over by Certusbank, Easley, SC. Community South had six branches. Estimated cost to the FDIC: $46.3 million.
No. 6 The Bank of Asheville, SC was shut down, then taken over by First Bank of Troy, SC. Asheville had five branches. Estimated cost to the FDIC: $56.2 million.
No. 7: United Western Bank of Denver was shut down, then taken over by First Citizens Bank & Trust Co. of Raleigh, S.C. United had eight branches. Estimated cost to the FDIC: $312.8 million.
Hello All, First time poster and looking forward to being a part of the group!