Banks in North Carolina, Georgia, Kansas are Seized
July 6, 2009
By MoneyAisle
According to Bloomberg, 3 banks in North Carolina, Georgia, and Kansas with combined assets of $1.5 billion have been seized by regulators. The closures, which will bring the year’s national total to 40, will cost the FDIC $363 million.
“Southern Community Bank of Fayetteville, Georgia, and 111-year old Cooperative Bank in Wilmington, North Carolina, were closed June 19 by state officials, and the Office of the Comptroller of the Currency shut First National Bank of Anthony, Kansas. The Federal Deposit Insurance Corp. was named receiver.”
“Southern Community’s $307 million in deposits were bought by United Community Bank in Blairsville, Georgia, and most of Cooperative’s $744 million in deposits went to First Bank in Troy, North Carolina, the FDIC said. Bank of Kansas in South Hutchinson acquired First National’s $142.5 million in deposits.”