BANK....BUST....FRIDAY !!!! Saturday morning hangover......

[marmar]

Bank Closing Information - September 4, 2009

First State Bank, Flagstaff, AZ
Platinum Community Bank, Rolling Meadows, IL
Vantus Bank, Sioux City, IA
InBank, Oak Forest, IL
First Bank of Kansas City, Kansas City, MO

www.fdic.gov


........................


5 bank failures bring 2009 tally to 89
By John Letzing, MarketWatch

SAN FRANCISCO (MarketWatch) - Five banks in Missouri, Iowa, Illinois and Arizona were closed by regulators Friday, bringing the number of U.S. bank failures in 2009 to 89 as the effects of the credit crisis continue to ripple through the financial system.

Two suburban Chicago banks failed in Illinois, the Federal Deposit Insurance Corp. said:

•InBank, the 14th bank to fail in Illinois this year, had $199 million in deposits as of Aug. 3, the agency said. Chicago-based MB Financial Bank has agreed to assume its deposits. InBank's failure will cost the deposit insurance fund $66 million.

•Platinum Bank of Rolling Meadows was closed by the Office of Thrift Supervision, which appointed the FDIC as receiver. As of Aug. 29, the bank had total assets of $345.6 million and deposits of $305 million, the FDIC said. The FDIC authorized payout of insured deposits and estimated the cost to its Deposit Insurance Fund will be $114.3 million. MB Financial Bank will accept the failed bank's direct deposits from the federal government.

Kansas City, Mo.-based First Bank of Kansas City also was closed by regulators. The FDIC said. De Soto, Kan.-based Great American Bank has agreed to assume the failed bank's deposits. First Bank of Kansas City had $16 million in assets and $15 million in deposits as of June 30, the regulator said. Its failure is expected to cost the federal deposit-insurance fund $6 million. First Bank of Kansas City is the second Missouri-based bank to fail this year, the FDIC added. ............(more)

The complete piece is at: http://www.marketwatch.com/story/missouri-bank-is-85th-us-failure-of-2009-2009-09-04-183700

[create.peace]

1. one of the comments:

I bought a toaster today and they gave me a bank as a thank you gift.