(Fla) Horizon Bank becomes year's 119th bank failure

[UpInArms]

Source: Marketwatch

Horizon Bank of Bradenton, Fla., became the 119th U.S. bank failure of 2010, according to the Federal Deposit Insurance Corp. on Friday. Bank of the Ozarks (OZRK 36.61, -0.36, -0.97%) will assume Horizon's $164.6 million in deposits and purchase its $187.8 million in assets. The bank failure marks the 23rd in Florida this year. The cost to the Deposit Insurance Fund is $58.9 million, FDIC said.

Read more: http://www.marketwatch.com/story/horizon-bank-becomes-years-119th-bank-failure-2010-09-10

[DontTreadOnMe]

1. The cost to the Deposit Insurance Fund is $58.9 million

no big deal... we are wasting billions a month in Afghanistan... so who is counting the tiny million amounts anyway.

[FBaggins]

2. It's a tiny loss because it's a tiny bank.

180 million or so is really just one big branch.