FDIC acquired SIX banks yesterday (Dec 4th)

[jtrockville]

Greater Atlantic Bank, Reston VA 32583
Benchmark Bank, Aurora IL 10440
AmTrust Bank, Cleveland OH 29776
The Tattnall Bank, Reidsville GA 12080
First Security National Bank, Norcross GA 26290
The Buckhead Community Bank, Atlanta GA 34663

http://www.fdic.gov/bank/individual/failed/banklist.html

[FarCenter]

1. AmTrust is a $2.0 billion hit to the FDIC; Buckhead is a fairly big failure as well

See also

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x7157902

The FDIC doesn't actually acquire these banks. They are sold immediately to other viable banks, with the FDIC participating in the losses on the bad assets.

Buckhead has several subsidiaries in the Atlanta area.

[Name removed]

2. Deleted message

Message removed by moderator. Click here to review the message board rules.

[AllentownJake]

3. They should be able to remain solvent if they collect premiums due till 2020 today nt.

[Nikki Stone1]

4. Thank you for posting this!

This is all happening under the radar. Small banks will be closed and we'll all have to bank with fucking Chase!

[jtrockville]

5. Ugh. I use a local bank (Presidential), but I check Greater Atlantic

Since interest rates are so horrible lately, even though I love Presidential, I regularly check the CD interest rates at Greater Atlantic Bank too. I was shocked to find the FDIC notice at gab.com today.